The Dow is making like a sinking submarine....
Promises of new money to buy stakes in ailing financials have availed us nothing...promises of fiscal discipline once prosperity returns yield up much the same.
Forget what Freud said about women, the key question here is, what does Wall Street Want?
Bailouts clearly, they just don't want socialism or nationalization or any restrictions on their entirely phantom notions of a future freedom of action.
This at a time when the USA owns 40% of Citibank once the biggest baddest global bank of them all.
Seems to be a tension there between the reality and the expectation.
It occurs to me, that we have already begun the process of nationalization...we just won't call it that. Other than that all the factors are there, the government owns shares, shares control board of directors which now answers to the Treasury Department.
The only question in my mind is, how do we organize this ad-hoc process to the benefit of the American people? By that I mean the proverbial little guy and little gal...da plain folks.
No comments :
Post a Comment