Sunday, October 18, 2009
This is not capitalism, Part II
Here's another way to describe today’s government-subsidized bank capitalists: “The modern-day robber barons.” Hmmm. Robber barons. A little corny. But not bad. … Another entrant: ‘Octopus.’ I like the comparison of big banks to Standard Oil. But Octopus isn’t quite accurate or catchy enough. … I may be partial, but I think plutocrats is the simple way to go. We can nickname them ‘Plutos’ for short. …
There's too much talk of reform. Not enough action. Here’s a simple idea: Repeal the repeal of the Glass-Steagall Act. If financial firm are too big to fail, they shouldn’t be allowed to exist. They never should have been allowed to exist. … This is one of those moments when conservatives have to confront economic contradictions. Stick with the current system – and keep bailing out the plutocrats via government intervention. Change the current system – and stop bailing out the plutocrats via government-intervention corrections. …
Here's another way to describe today’s government-subsidized bank capitalists: “The modern-day robber barons.” Hmmm. Robber barons. A little corny. But not bad. … Another entrant: ‘Octopus.’ I like the comparison of big banks to Standard Oil. But Octopus isn’t quite accurate or catchy enough. … I may be partial, but I think plutocrats is the simple way to go. We can nickname them ‘Plutos’ for short. …
There's too much talk of reform. Not enough action. Here’s a simple idea: Repeal the repeal of the Glass-Steagall Act. If financial firm are too big to fail, they shouldn’t be allowed to exist. They never should have been allowed to exist. … This is one of those moments when conservatives have to confront economic contradictions. Stick with the current system – and keep bailing out the plutocrats via government intervention. Change the current system – and stop bailing out the plutocrats via government-intervention corrections. …
