Monday, September 15, 2008

Lehman Brothers - Bankruptcy!

Curious about the kind of Raw Capitalism created by Reagan and reinforced by free-market Repubs ... bringing us to the incredibly sad time: the mortgage debacle, the Feds taking over Fredie and Fannie, and now Lehman Brothers going belly-up.

Their mantra: No Regulation.

Yeah, right ... and then when their greed and foolishness brings them to their knees, and millions of decent and honest employees and small investors (the big ones are just as greedy and irresponsible, adolescent actually) to their knees, they go crying to Uncle Sam.

Does this make sense?

Perhaps, but it makes sense only if our Federal Government can regain the rightful regulatory role of government.

Traditional Capitalism has always been a partnership between business and government, a partnership that created and sustained the Middle Class, the success of America's economy.

Without that partnership, we end up where we end up: the rich getting richer by taking more and more of the pie, and the poor getting poorer, with fewer and fewer opportunities to make headway.

An economy, unregulated, like the board game, "Risk," ends with all the cards being held by one player - in this case, the super-rich, with a very thin middle class, and all the rest, struggling to make ends meet, many of whom will plunge into deep and irreversible poverty.

I don't expect business to have much of a conscience - it's supposed to make money, and make as much of it as it can, but if Wall Street is the only force, if the bottom line is the only reality, if the profit margin at the end of the year is the only thing that counts, then we're all in trouble and our way to becoming a nation of serfs.

Shall we bail out Lehman brothers?

Not if we're going to continue the present course.

But we if we regain our senses and create a government of the people, by the people and for the people - not just the super-rich, but for the entire nation, especially those who are otherwise without voice and power, then let's bail 'em out and get back on course.

Let's kick out the Raw Capitalists who are nothing more than Fascists wrapped in God and Country.
Let's recover Traditional Capitalism ... and get on with the work of being America.

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