The Great Barbeque Part 2: Socialism for the Rich
Mark Twain once referred to the Gilded Age, that period after the Civil War in which the plutocrats of the late 19th century economically roasted the country in order to amass great wealth, as the "Great Barbeque." To be fair, these same plutocrats also created the modern industrial state. However, they were aided and abetted by venal members of Congress. But this roasting also led to great ineqaulities which weren't dealt with until the Great Depression of the 20th century.
Today, the Paulson plan, buying the toxic mortgages that's plaguing the nation's financial, capital and credit markets, is essentially the the Great Barbeque Part 2, in which the same malefactors of great wealth are allowed to in engage in socialism for the rich but free enterprise for the poor.
This may be even the Great Barebque Part 3, if one considers that the general thrust of deregulation, initiated by th Reagan admininstration and followed through by succeeding Republican and Democratic administrations, has also allowed, as demonstrated by Thomas Frank in his recent tome, The Wrecking Crew, conservatives to make a buck off their own incompetency while destroying the nation's physical and financial infrastructure.
Glenn Greenwald's take on Times columnist David Brooks' new economic establishment goes to the heart of the matter: meet the new boss who's the same as the old boss.
But also examine the Roll Call list, as cited by Greenwald, of the richest politicians in the US Congress. Please note who comes in at number thirteen. "Mr. Populist" himself.





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