Borosage Gets an Interesting Question

"No one doubts that the bailout is needed to prop up the global economy. But under Paulson's plan, we may end up, in Weil's words, "throwing money at an industry that pays too many people more than they're worth, to perform services the world has too much of already."
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Isn't this the way we treat our other military contractors? Since this meltdown was foreseen in the financial press of Hong Kong, what if this is Disaster Capitalism at work? Is Goldman Sachs the Haliburton of Wall Street?

The housing bubble was "engineered," Stiglitz says. And its collapse? Boom and bust is our way of redistributing wealth ever upwards.

How many "mistakes" does it take to make a policy? Only two points define a line, yet the disasters just keep coming, with no attempt to connect the dots? As an earlier commenter mentioned, if Paulson and Bernanke and the whole "fundamentals are sound" crowd didn't see coming what many people did, then are they incompetent, or is the "disaster" the actual policy?

Posted 09:21 AM [ET] on 10/22/2008
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Robert L. Borosage - Huffpost Blogger

"Incompetent or is disaster the policy? Interesting question.

May not matter however, since you are right that the booms and busts have served to help redistribute wealth upwards.

Naomi Klein's brilliant writing on "disaster capitalism" argues that what is telling is that when the crisis comes, the right uses it to drive otherwise unacceptable ideas. Surely that is what is happening in this crisis.

Posted 12:59 PM [ET] on 10/22/2008
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darcy

"Naomi Klein's brilliant writing on "disaster capitalism" argues that what is telling is that when the crisis comes, the right uses it to drive otherwise unacceptable ideas. Surely that is what is happening in this crisis."

Of course that is what is happening! Anyone with half a brain can see the scam. People are being fooled because they want to be fooled. If they admit to themselves that their own government is robbing them, they will feel helplessness and despair - and they don't want to feel that.
Posted 02:13 PM [ET] on 10/22/2008
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knowbuddhau

[The following comment somehow was deleted from HuffPo]

Thanks for the replies. Are you saying, Mr. Borosage, you never considered that all these "mistakes" in a row were actually the policies? I'm stunned.

When a predator approaches a school of fish, they form a ball because each one is diving for cover in the middle. Many cetaceans use their bubbles to school and then feast on them.

Just so, I'm dead certain that our leaders are using advanced methods of machining public opinion. And it takes a very familiar pattern.

"The people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell [voters] they are being attacked and denounce the [opposition] for lack of patriotism and exposing the country to danger. It works the same in every country."

Is that Karl Rove I hear? Or Hermann Goering? The Zen answer is, both!

Posted 10:53 AM [et] on 10/26/2008
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[This comment now appears directly that of Mr. Borosage.]

One more thing.

Just what do you mean, "may not matter?" Isn't that like Palin saying, doesn't matter how global warming is happening? It "may not matter" that our leaders may be defrauding us as a matter of policy? That it's BushRoveCo policy to suppress voter turnout and pervert the tabulation?

"May not matter," you say? Mr. Borosage, I think it matters a great deal.

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Posted 11:18 AM [ET] on 10/26/2008

[Another attempt at replying to darcy.]

This comment is pending approval and won't be displayed until it is approved.

When a predator approaches a school of fish, they form a ball because each one is diving for cover in the middle. Many cetaceans use their bubbles to school and then feast on them.

Just so, I'm dead certain that our leaders are using advanced methods of machining public opinion. And it takes a very familiar pattern.

"The people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell [voters] they are being attacked and denounce the [opposition] for lack of patriotism and exposing the country to danger. It works the same in every country."

Is that Karl Rove I hear? Or Hermann Goering? The Zen answer is, both!

Posted 11:38 AM [ET] on 10/26/2008