[lit-ideas] Re: "Promissory Materialism" Correction
- From: "Adriano Palma" <Palma@xxxxxxxxxx>
- To: "lit-ideas" <lit-ideas@xxxxxxxxxxxxx>
- Date: Sat, 19 Nov 2011 17:02:28 +0200
** For Your Eyes Only **
** High Priority **
** Reply Requested by 11/19/2011 (Saturday) **
waccha you smoking bru?
>>> Andy <mimi.erva@xxxxxxxxx> 11/19/2011 4:36 PM >>>
Reich was labor secretary, and he does promote the interests of the
middle class. Note the books he's written. Larry Summers was
responsible for repealing Glass Steagall in the Clinton administration.
(He was there both terms I think.) Robert Rubin was Clinton's treasury
secretary (a Goldman acolyte) who went on to be CEO of Citibank. Both
were in Obama's administration. So, did they (Clinton and Obama) pick
Summers and Rubin, or did Summers and Rubin pick Clinton and Obama. An
interesting connection is that Summers was president of Harvard.
Summers is Chicago School economic theory (Milton Friedman, rabid
laissez faire). Obama went to Harvard and is from Chicago and is allied
with the Chicago School. He appointed Chicago School Austan Goolsbee
his main economic adviser. All presidents probably since Lincoln
were/are just spokesmen for industry, doing industry's bidding. FDR
slowed the 'money trusts' down for a while. Reagan was the real turning
point downward. Chomsky's said that for years. It's so Orwellian that
Reagan is held up as having been good for the country, like naming an
airport after him when he's the one who busted the air traffic
controllers union; unions are quintessential middle class institutions.
Just curious, Eric. What do you think of the fact that Eisenhower gave
that famous beware the military industrial complex speech? Why do you
think that he of all people was himself unable to do anything to stop it
rather than just warn others to do it?
http://www.guardian.co.uk/commentisfree/2008/jun/14/barackobama.uselections2008
For anybody with any illusions left:
http://onpoint.wbur.org/2011/11/17/dirty-politics-and-big-money
Andy
From: Eric Yost <mr.eric.yost@xxxxxxxxx>
To: lit-ideas@xxxxxxxxxxxxx
Sent: Saturday, November 19, 2011 3:35 AM
Subject: [lit-ideas] Re: "Promissory Materialism" Correction
In 1999, Bill “Nobody Left To Lie To” Clinton repealed the
Glass-Steagall Act, an FDR-era protection against bank bloat. He was
lobbied by a banker who became Citigroup CEO after the repeal. Shortly
after the repeal Clinton’s Treasury Secretary Reich went to work for
CitiGroup. This corrupt bipartisan legislation allowed the “too big to
fail” institutions, without which there would have been no gigantic US
bank-bailout. Therefore, legislation may be seen as the prime mover of
our woes. (Both McCain and Obama have tried to bring back some form of
the Glass-Steagall Act.) So much for our woes. European woes are a
different dirge, but I suspect legislation may be more causal than banks
per se. There, that is, rather than here.
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