|
strange but i think there's a veneer of almost common ground in our basic hostility toward the contemporary american financial oligarchy...but as soon as we move off from there things diverge.
i think it's entirely crazy to see positive state action--something the feds actually did---an enabling condition here. it was much more that greenspan and the sec and alot of other folk actually bought into the washington consensus nonsense that capitalism---which is a form of ownership, a type of production---was self-regulating and that "government" introduced distortions.
there's no question but that this was capitalism.
your argument is an extreme version of another i think: the one that was talking about the "removal of moral hazard" during the final deathspin of the bush period when the free marketeer set was bewildered as to why wall street wasn't simply allowed to implode as if the problem was discrete--a limited market operating under conditions of information transparency like something hayek dreamed about---when the fact is that the entire gloablizing capitalist political and economic system was put into danger because it was not just wall street traders who had bought into derivatives--it was the transnational banking system and **alot** of governments, all of whom at one level or another bought into the same neoliberal delusion that capitalist markets are rational.
__________________
a gramophone its corrugated trumpet silver handle
spinning dog. such faithfulness it hear
it make you sick.
-kamau brathwaite
|