That roll of the eyes is a key part of the psychology of Paulsonism. The state is now being asked not just to call off its regulators or give tax breaks or funnel a few contracts to connected companies; it is intervening directly in the economy, for the sole purpose of preserving the influence of the megafirms. In essence, Paulson used the bailout to transform the government into a giant bureaucracy of entitled assholedom, one that would socialize "toxic" risks but keep both the profits and the management
of the bailed-out firms in private hands. Moreover, this whole process would be done in secret, away from the prying eyes of NASCAR dads, broke-ass liberals who read translations of French novels, subprime mortgage holders and other such financial losers.
Tuesday, March 24, 2009
NAILed it !
As in, "nail in the coffin" of this country. I wish there was a way that Matt Taibbi could explain as forcefully what the frikk we're supposed to do now. You'll have plenty of time to read this long piece, meandering amid the ruins of what was once a god-fearing, hard-working upstart nation. But if you don't survive the impending doomsday, here's a short excerpt to drive that final nail home: