Saturday, September 20, 2008

Shock and Awe, Financial Division

In her book The Shock Doctrine: The Rise of Disaster Capitalism, Naomi Klein documents how the Republican Neocons have perfected the use of shock and awe to get what they want. Briefly, Klein's doctrine describes how using the uncertainty that surrounds a crisis situation (9/11 Attack, Iraq War, Hurricane Katrina etc. etc) Republicans push through rules, decisions and laws that otherwise would be too unpopular to attempt (Patriot Act, Removal of Habeas Corpus, approval of torture...sorry enhanced interogation, privatization of the army in Iraq, warrant-less eavesdropping on American citizens, etc. etc.)

I have one question.

Is this week's financial meltdown another example of shock and awe? On the one hand we have the irony of the Neocon Republican oligopoly presiding over the largest imposition of socialism in our country's history.

Nixon in China anyone?

On the other hand, the end result of their attempts to save us from another Great Depression is the propping up of financial managers who guessed wrongly in their gambling of shareholder assets and the transfer of $700 Billion in taxpayer dollars to the aforementioned private sector to benefit those managers and possibly their shareholders.

Can anyone help me out?

1 comment:

artiefacts said...

"Is this week's financial meltdown another example of shock and awe?"

The meltdown itself took 20 years or so of malfeasance by Wall Streeters and their bretheren in congress.

The real Shock and Awe, (as in, a brief, orchestrated show of force,) is the proposed bailout plan. If enacted, it would be the biggest theft of taxpayer money in US history, and the whole thing was planned over one weekend by a former CEO of Goldman Sachs.

That's shocking and awe-inspiring to say the least.