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5071 [lbo-talk] Geithner clarifies -- rank: 1000

On Mar 24, 2009, at 1:53 PM, Michael Pollak wrote: > If by "existing relations" you mean the capitalism Can't speak for Dwayne, but to me it's not about preserving capitalism, which seems fairly inevitable, but a particular subspecies of capitalism - the private equity/hedge fund kind.

Document Size:	4753
Author:	Doug Henwood
Date:	Tue Mar 24 11:01:31 PDT 2009

5072 [lbo-talk] Geithner clarifies -- rank: 1000

On Mar 24, 2009, at 1:14 PM, Jordan Hayes wrote: > What do you and Paul think would "work" by nationalizing Citibank? Look, I don't think the point of all this should be to try to restore the status quo ante - to take us back to 2005 or 1999. I think we need a tightly regulated financial system and, at the very least, social democracy. That's what I want to "work." Doug

Document Size:	4855
Author:	Doug Henwood
Date:	Tue Mar 24 10:25:17 PDT 2009

5073 [lbo-talk] hmm, guess nationalization's ok sometimes -- rank: 1000

On Mar 24, 2009, at 1:18 PM, Chris Maisano wrote: > I'm confused as to why they are asking for an expansion of the power > to seize non-bank institutions when they have shown a complete > aversion to seizing the banks themselves. Does this indicate that > they actually intend to move against the hedge funders in some > fashion? I can't see why they would. This strikes me as some ex post > facto ass covering more than anything else. Maybe they're afraid their scheme won't " ...

Document Size:	5253
Author:	Doug Henwood
Date:	Tue Mar 24 10:23:50 PDT 2009

5074 [lbo-talk] liberal austerity -- rank: 1000

Wow, The Nation is already offering BHO liberal cover for an austerity program! If I were a right populist, I could make a lot of hay with this. Doug ---- <http://www.thenation.com/blogs/notion/420596/our_budget_our_selves> posted by MELISSA HARRIS-LACEWELL on 03/24/2009 @ 08:13am Few processes are more revealing of our commitments, our priorities, and our core beliefs than budgeting. This is true for individuals, families, institutions, and nations. How we spend our resources is a mu ...

Document Size:	7902
Author:	Doug Henwood
Date:	Tue Mar 24 10:15:13 PDT 2009

5075 [lbo-talk] Geithner clarifies -- rank: 1000

On Mar 24, 2009, at 12:45 PM, Carrol Cox wrote: > Well, Sweden was a small nation nestled in a world economy that was, > more or less, working. The U.S.is a huge economy interwined with a > world > economy which is more or less in the same mess. Has anyone explored > the > Swedish 'model' taking these matters into consideration. Of course, the U.S. is not Sweden. Yes, Sweden's a small country and the U.S. is a big one. On the other hand, the U.S. government is very big and ha ...

Document Size:	5221
Author:	Doug Henwood
Date:	Tue Mar 24 10:01:47 PDT 2009

5076 [lbo-talk] hmm, guess nationalization's ok sometimes -- rank: 1000

Washington Post - March 24, 2009 <http://www.washingtonpost.com/wp-dyn/content/article/2009/03/23/AR2009032302830_pf.html > U.S. Seeks Expanded Power to Seize Firms Goal Is to Limit Risk to Broader Economy By Binyamin Appelbaum and David Cho Washington Post Staff Writers The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non- bank financial companies, such as large insurers, investment firms and hedge fun ...

Document Size:	8711
Author:	Doug Henwood
Date:	Tue Mar 24 09:59:25 PDT 2009

5077 [lbo-talk] Geithner clarifies -- rank: 1000

On Mar 24, 2009, at 12:41 PM, Jordan Hayes wrote: > Doug asks: > >> What is the outcome of "working" vs. "not-working"? > > Sorry for using shorthand: I believe that it can't work without > addressing the issues raised in Michael's post. Since those issues > haven't been addressed, taking that route would be a giant leap into > the unknown (for the record: I think giant leaps into the unknown > are bad). Since the reason stated by proponents is ...

Document Size:	5925
Author:	Doug Henwood
Date:	Tue Mar 24 09:51:41 PDT 2009

5078 [lbo-talk] Geithner clarifies -- rank: 1000

On Mar 24, 2009, at 12:12 PM, Jordan Hayes wrote: >> What do you mean, "will not work"? > > http://mailman.lbo-talk.org/lbo/Week-of-Mon-20090223/002952.html That's not really a definition of "will not work" - it's a list of problems with nationalization. What is the outcome of "working" vs. "not-working"?

Document Size:	4921
Author:	Doug Henwood
Date:	Tue Mar 24 09:28:35 PDT 2009

5079 [lbo-talk] Geithner clarifies -- rank: 1000

On Mar 24, 2009, at 10:06 AM, Jordan Hayes wrote: > The "Swedish Solution" is not being considered in this case by > anyone other than bloggers, *because it will not work*. What do you mean, "will not work"? To me, the Swedish solution means the gov ejecting idiot bank management and taking control. No bullshit, as the finance ministry guy told the FT. Right now, we're embarking on federally subsidized bullshit, in size. Doug

Document Size:	4928
Author:	Doug Henwood
Date:	Tue Mar 24 09:04:40 PDT 2009

5080 [lbo-talk] Is Obama Running Interference to ProtectBankers' Pay? -- rank: 1000

On Mar 23, 2009, at 11:27 PM, Eubulides wrote: > ----- Original Message ----- From: "Doug Henwood" <dhenwood at panix.com> >> No more deluded by reaction >> On tyrants only we'll make war >> The soldiers too will take strike action >> They'll break ranks and fight no more >> And if those cannibals keep trying >> To sacrifice us to their pride >> They soon shall hear the bullets flying >> We'll shoot the generals on our own side. ...

Document Size:	5646
Author:	Doug Henwood
Date:	Tue Mar 24 09:03:14 PDT 2009

5081 [lbo-talk] the Geithner plan: reviving the speculative game -- rank: 1000

Wall Street Journal - March 23, 2009 <http://online.wsj.com/article/SB123785822938320783.html> Geithner's Gamble Needs Speculators By PETER EAVIS As last throws of the dice go, this is midnight at the craps table for Timothy Geithner. On Monday the Treasury secretary laid out plans aimed at cleaning up bank balance sheets and resurrecting the securitization market, which once helped credit flow through the economy. The Treasury wants to persuade private investors to buy loans and asset ...

Document Size:	7710
Author:	Doug Henwood
Date:	Mon Mar 23 18:46:41 PDT 2009

5082 [lbo-talk] Is Obama Running Interference to ProtectBankers' Pay? -- rank: 1000

On Mar 23, 2009, at 7:40 PM, Chris Doss wrote: > The Internationale uses no moral language whatsoever. It's a purely > scientific document. <http://www.uv.es/~pla/red.net/intaoter.html> The Internationale [variant words in square brackets] Arise ye workers [starvelings] from your slumbers Arise ye prisoners of want For reason in revolt now thunders And at last ends the age of cant. Away with all your superstitions Servile masses arise, arise We'll change henceforth [forthwith] the o ...

Document Size:	6254
Author:	Doug Henwood
Date:	Mon Mar 23 18:02:21 PDT 2009

5083 [lbo-talk] Is Obama Running Interference to ProtectBankers' Pay? -- rank: 1000

On Mar 23, 2009, at 5:38 PM, wrobert at uci.edu wrote: > And in rides his majesty, the liberal individual, presumably on a > white horse. Back in the day when we had mass socialist and communist parties, don't you think that the rank and file came to them with some moral/ ethical notions? They nonetheless produced anti-bourgeois collectivities.

Document Size:	5230
Author:	Doug Henwood
Date:	Mon Mar 23 16:05:48 PDT 2009

5084 [lbo-talk] Geithner clarifies -- rank: 1000

On Mar 23, 2009, at 4:53 PM, B. wrote: > Know what I mean? Or does this just sound ridiculous? It's not. In his interview with ABC News, Obama conceded that Sweden's approach was sensible. After his devious self-exculpation - they had like 5 banks, we have thousands, which is technically true, but not really relevant - he then disclosed the real reason. We're America, we're different. No need to make an argument - it just is. Doug

Document Size:	4899
Author:	Doug Henwood
Date:	Mon Mar 23 14:19:17 PDT 2009

5085 [lbo-talk] Looking for statistics on Speculative versus Real Stock investment (?) -- rank: 1000

On Mar 23, 2009, at 3:50 PM, shag wrote: > This book I just finished has the numbers, The Great Financial > Crisis by > Foster and Magdoff: > http://www.monthlyreview.org/books/greatfinancialcrisis.php Ahem. Another book, available for free download on the web, has a full analysis: <http://www.wallstreetthebook.com>. Doug

Document Size:	5475
Author:	Doug Henwood
Date:	Mon Mar 23 13:00:18 PDT 2009