
Enjoy the turkey!
"Principiis obsta; Finem respice." Olaf Rotkohl thinks that the pursuit of power over others is in itself a corruption, and those who seek such power are fundamentally corrupt. This space is dedicated as part of the constant challenge to those who seek to wield authority over the rest of us, keeping them on notice that they exert power only as it is granted to them by the people.


He made his argument even as the U.S. government has set billions of dollars for taking stakes in banks to help jump start lending again. "I'm a market-oriented guy, but not when I'm faced with the prospect of a global meltdown," he said.Exactly. It's like saying, "I'm a big boy. I'm on my own." And then, when trouble comes, "Mommy! Daddy!"
While acknowledging that critics from across the ideological spectrum are "equating the free enterprise system with greed and exploitation and failure," Bush argued that the crisis was not a failure of the free market system.Shit, man, greed, exploitation, and failure are what the system is based on! Ask any stock trader. Volatility and instability rule, dude! Unless you're a poor working schmuck. But then they're just suckers, right? They don't deserve any of the wealth they've created, or any security, or respect. After all, George W. Loser and McCain got their money the right way: inherit it, or marry it.

"Our aim should not be more government. It should be smarter government," Bush said during a speech in New York, a day before about two dozen world leaders converge on Washington for a weekend summit he is hosting.You can't make shit like this up.





Trillions in personal wealth flushed down the toilet and this is all Ayn Rand acolyte Alan Greenspan can offer. And he was treated like a god at the Fed.
Did I just go back in time? Jesus H. Christ, the most right-wing, reactionary, free market crackpot party rams through partial nationalization of banks and their candidate for president, John McCain, is invoking the spectre of communism to attack Barack Obama?“He wants to quote ‘spread the wealth around,’” McCain said in a campaign speech in Pennsylvania Tuesday. “He believes in redistributing wealth, not in policies that grow our economy and create jobs and opportunities for all Americans. Sen. Obama is more interested in controlling who gets your piece of the pie than he is in growing the pie.”And Sarah Palin keeps reading from the same cue cards:
At a rally Friday in West Chester, Ohio, where one banner in the crowd read, "Obama is a Socialist/Marxist," Palin said, "Joe suggested that that sounded a little bit like socialism. Whatever you call it, I call it bad medicine for an ailing economy, and it's what Barack Obama will do to those who want to create jobs, and we're willing to call Barack Obama on it."What the frak? I mean, I get it. They lost ground when they tried to label him a terrorist, and a secret Muslim, and a guy with a weird name, and a guy named "Hussein," and a guy who happened to be half African-American, and a guy who was educated and "elite," and a guy who was "eloquent" and therefore suspicious, and so on, they lost polling points every time, and so they have to reach waaaaaaaay back to some retro Eisenhower era codeword that might just echo for the last few numbskulls who haven't realized what a washed-up douchebag weathervane McCain is and what an incurious, dumbass, fanatic Palin is.
Before I rant, "Neu Entdecken" means "new discovery," which is why I had to use this recent photo from my Berlin trip to accompany commentary on Treasury Secretary Henry Paulson's capitulation to partial nationalization of the banks. It's one of those sweet, sweet ironies that also has a terribly painful price for its enjoyment--all of us losing our financial asses. Paulson, a Wall Street insider who loved the totally anti-regulation atmosphere and absense of any enforcement of the few regulations that remained, had to face the obvious-to-some-of-us fact that capitalism cannot function without some protection from the natural greed that too often destroys the very thing that fed it. Here's what Paulson said, and it's kind of delicious. I just wish it wasn't costing me so goddamned much money. Fuck!Today we are taking decisive actions to protect the U.S. economy. We regret having to take these actions. Today's actions are not what we ever wanted to do — but today's actions are what we must do to restore confidence to our financial system... We are acting with unprecedented speed taking unprecedented measures that we never thought would be necessary. But they are necessary to get our economy back on an even keel, and secure the confidence and future of our markets, our economy and the economic well-being of all Americans.
Yeah, they never thought it would be necessary because they're greedy, incompetent, unimaginative assholes, and, let's face it, Americans are not really very well educated in financial matters...or much of anything beyond what Rush Limbaugh or Wolf Blitzer tell them, depending on which no-nothing they happen to like. Looking at the New York Times' photo of Paulson, Fed Chair Ben Bernanke, and Timothy F. Geithner (a Fed board member) is really fun, because they look like a trio of schoolboys about to see the principal. But they're just smart enough to keep this deal flush with loopholes that will allow the further raping of the U.S. taxpayer and looting of the nation.
Here's the deal. The European central banks really forced the U.S. to do this by rapidly deploying capital and control over the financial sector in Europe. But the U.S. version is faulty for the following reasons, as reported by the New York Times:
Got that? Paulson, et alia, are funneling money to the same fuckers who caused this mess, but without the necessary guarantees and controls that they won't fuck it up again, and even worse. So don't expect this to be any sort of turnaround. Paulson is giving away our money without demanding sufficient proportional control and, even more importantly, openness.Whereas some European plans barred banks from paying dividends on common stock until the government got its money back and demanded promises that the banks would keep loans flowing to businesses and individuals, Washington allowed the banks that it invests in to continue paying dividends on existing common and preferred shares.
In addition, while European banks are being required in some cases to put government representatives on their boards, the American government will not receive board seats or have voting power.