Tuesday, 23 September 2008

The US Financial Crisis: Hey, Wait a Minute, You’re Going to Give the Guys Who Got Us into This Mess Complete Control?

"Cash for Trash" is the title of Paul Krugman’s most recent column, and Naomi Klein is calling for resistance to the latest attempt to use a crisis in the interests of Disaster Capitalism.

There are few who doubt that massive efforts are needed to right the listing financial ship, but what is being proposed goes far further that. “If the government is going to provide capital to financial firms, it should get what people who provide capital are entitled to — a share in ownership, so that all the gains if the rescue plan works don’t go to the people who made the mess in the first place,” Krugman writes.

“It would be a grave mistake to underestimate the right's ability to use this crisis -- created by deregulation and privatization -- to demand more of the same,” Klein says, adding “The only hope of preventing another dose of shock politics is loud, organized grassroots pressure on all political parties: they have to know right now that after seven years of Bush, Americans are becoming shock resistant.”

Let’s hope so. It may not be time to go to the barricades, but it sure is time to write, e-mail and protest.

No comments: