The Way We Were
It’s a lousy movie with a terrible song, ugh, and remembering it this morning merely re-enforces what a gloomy idea it is when trying to comprehend the incredibly reeking mess of our financial policy. As far as I can tell—‘n what Galbraith wrote in the Washington Monthly—is that Geithner and Summers are currently implementing the looting of the Treasury so we can get back to normal, meaning privately owned banking and finance that enabled gross inequity and got us into this mess.
Remember, as Josh Marshall so astutely pointed out, so far there has been nary a peep on plans to break up these too-big-to-fail extortionists. Why on earth we would be so foolish as to allow the precise same environment to exist after trillions of dollars of looting defies any notion of common sense, but this is where we are.
I’m sickly furious with this exasperating mess that only gets worse by the week, it’s grinding our people down and blowing up political capital all over the place. The hedge fund manager income tax exemption story is just waiting to erupt all over again, and I get the distinct impression Geithner, Summers, Axelrod and Bernanke are totally clueless on the red-hot volatility of this issue, extremely powerful political forces could careen out of control under their hands at any minute.
“…all I can summon at this point is a long string of profanities…” the exemplary citizen and blogger Emptywheel wrote yesterday on the gross disparities of treatment between the Finance and Auto sectors. I know the feeling.
It’s a gorgeous Spring day and I am not fouling my consciousness with this reeking enabling horseshit finance policy anymore. We worked our assses off for change and this…is…not…it. No one knows the final political implications of this, but it cannot be good in any sense, the way we were is what we’re supposed to be marching away from, not this French kiss from Geithner.