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The corporatist slant to the government in Washington has now prevailed over three presidents.
This shift to turning the financial economy into The Economy got its real traction under the Clinton administration, the culmination of which saw the repeal of Glass/Stegal and the beginnings of an unrestrained government subsidized investor class as the foundation of our economic (and political) existence.
Robert Rubin, along with Greenspan and the other “unrestrained capitalist” cheerleaders, were central to the process. Rubin oversaw the merger of Travelers and Citibank (which was then illegal under Glass/Stegal), then went on to make millions working for the newly created Citigroup.
A watershed moment in the evolution of corruption into business as usual.
The results were predictable: a massive mortgage-backed securities fraud in which the economy was sunk, CEOs of the major banks got rich through government bailouts, while the American people picked up the tab.
The Rubin protegees like Larry Summers, Neal Wolin, Michael Barr and now Jack Lew, are a cancer that has invaded the body politic. The policies of the Fed that support “managing” the economy through unnaturally low interest rates (basically giving free money to Wall Street speculators) subsidize the investor class and promote a system of financial engineering over economic infrastructure. And the results are predictable: huge dividends for speculators and stagnant wages for everyone else.
And yet, to listen to these two parties “debate” the economy, one would think the Democrats support economic “stimulus” while the Republicans object to big government programs. The fact is that the true agenda of both of these parties is to support special interests, in particular the investor class, while they make money for themselves and ensure a place amongst the American gentry when they retire from “public service.”
OK, so the system is rigged, bought and sold and run by investment bankers and special interests. So, what do we do about it?
First, pay attention to the actual policies of our politicians instead of their rhetoric.
Second, look for and support actual leaders instead of professional politicians and get involved in the primary process. In a country of 300 million people, we can and must do better than this.
Third, stop supporting the next corporate sponsored big money professional politician that the media tells us are our only viable candidates.
And fourth, look for opportunities when they arise.
The only reason we believe that candidates outside the mainstream cannot be elected, is because our media tells us they are not electable.
It’s been said that we get the government we deserve, and until and unless we begin to pay attention and make better choices, the government we deserve will be the one intent on dismantling democracy in favor of a corporate state, one in which the profits of the few far outweigh what profits the many.
We have a limited window to stop this trend, but we, as a people, have to turn off the manufactured dialog being presented by our media and pay attention to who our “representatives” actually are, instead of what they say.
We have to make better choices and get involved far before the actual election, when our only choice will be the lesser of two evils.
F John Lozen