My real concern is — has been my concern from day one — is that the crisis on Wall Street, created by deregulated capitalism, is not actually being solved,” continued Klein. “It’s being moved. A private sector crisis is being turned into a public sector crisis.”


5 Responses to “Succinct”

  1. libhomo Says:

    My impression, which could be incorrect, is that Europe, especially continental Europe, has been acting to reregulate the markets while the Obama administration has mostly been offering platitudes.

    • RickB Says:

      I would say it’s a case of splitting hairs, neither are doing enough as all govts. are captured by financiers and capital although Obama has problems as he has all the Goldman mafia infesting the place. The UK is both worse and better in various respects, we really let the financiers run the joint but at least we have some institutional remains of social democracy to fall back on although they are under attack as well. Continental Europe seems split between Germany who are not in such great jeopardy and those who are up shit creek (in part because of Germany’s wealth made through asset stripping them!). The Swiss and other bank secrecy/haven territories need to be solved too. A lot of the newer EU members are in hock to the richer ones through the usual neoliberal programs that the wealthy ones are also in trouble is entirely down to their unmitigated greed, there is a pan-national elite now made up of aristos, corporate types and mobsters who have made out well and they stand against any real reform. But again at least Europe has that stronger social democratic past health, welfare etc, which might be good or bad- further to fall or more targets for the elite!

  2. Jotman Says:

    Obama seems to want to build confidence (hope) in the markets, ideally with minimal new regulations or oversight (change). Obama’s campaign was always more about hope than change…

    • RickB Says:

      Maybe he meant Change as in coins, as in that’s all that will be left after Wall Street asset strips the nation?

  3. Jotman Says:

    That must have been what he meant.

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