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basically, what dippin said is a good response to you, ace.
i don't think you understand what's going on. if you remember--and i expect you don't---the bush people's move relative to a.i.g. was forced on it because of the magnitude of the asset pool it insured, the fact that national governments stood to loose enormous amounts if it went under--a.i.g. was a danger to the financial system as a system. talking about allowing institutions to fail as if they're in any meaningful way a collection of buildings separated from other collections of buildings and not nodes within very complex, very high=speed capital flows is absurd.
the obama administration probably should have already nationalized a significant portion of the banking sector, including aig. i think paul krugman's been consistently on this topic and has been consistently correct about it. part of the explanation for these half-assed half-way gestures appears to be political--obama seems to think it important to keep the republicans on the same basic page, when the situation militates for leaving them in the ash-heap of the past, where their economic ideology is already burning.
i don't think you understand what the situation is, ace, and i think that you've also drunk the koolaid (an expression i detest, but there's no better on this point that is anywhere near as polite) concerning what regulation is, what it can do and cannot do. regulation is a means to an end. what's required to use it effectively is a set of political goals. what obama's been stuck doing is trying to control the many many fires that the lunacy of free marketeer ideology have left burning. you advocate that ideology still, ace, so i don't see what you have to say that's of any interest. your way of thinking is what enabled this mess, what set it on fire, what paralyzed attempts to deal with it, and is what stays in the way of a coherent approach to this transformation in capitalist ideology that's under way.
and i dont recognize your attempts to shape what is and is not a correct way to approach afghanistan as a question.
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a gramophone its corrugated trumpet silver handle
spinning dog. such faithfulness it hear
it make you sick.
-kamau brathwaite
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