Friday, September 12, 2008

Fairweather free marketeers

Lehman races to find rescuerBy Jamie McGeever and Joseph A. Giannone

NEW YORK/LONDON (Reuters) - Concerns that Lehman Brothers Holdings Inc may not arrange a U.S. government-backed takeover quickly sent its shares down early Friday after reports the investment bank was in talks with Bank of America raised investor hopes of a rescue overnight.

Hmmm the same people who flippantly told us globalization was good, it might hurt a little, but so what if middle America lost millions of jobs and saw declining standards of living...but now their own financial imprudence is catching up with Wall Street, there is surprisingly little 'free market' talk.. and lots of 'we need government help' talk.

Even though it was Greenspan /Clinton years that was largely responsible for this (though Bush and CO are too blame as well) the fact that the super rich bankers are being bailed out will mean that republicans will NEVER be able to oppose subsidies for the poor on any idealogical basis. In other words, coming and going, right and left, government will continue to grow -much like Atlantic yards, the very poor will be used by the very rich to break the back of and steal from, the middle class, the productive class, the civic class.

For global elitists it not only lines their own pockets, but fulfills idealogical goals as well. Wreck nations, displace peoples, break down borders.

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