The Bailout Is - Literally - Fascist

A former senior advisor to the U.S. Treasury and highly-regarded economics professor, Nouriel Roubini, says that Washington’s bail outs are “socialism for the rich, the well connected and Wall Street; it is . . . a corrupt system where profits are privatized and losses are socialized.”

In fact, this is a quintessential characteristic of economies run by fascist regimes.

For example, historian Gaetano Salvemini argued in 1936 that fascism makes taxpayers responsible to private enterprise, because "the State pays for the blunders of private enterprise... Profit is private and individual. Loss is public and social" (page 416).


Well, remember that one of the best definitions of fascism is the "merger of state and corporate power".

And a significant agenda of fascists is to ensure loyalty from their nation's corporations.

As an article on Wikipedia states:

In general, apart from the nationalizations of some industries, fascist economies were based on private property and private initiative, but these were contingent upon service to the state.

Fascist governments encouraged the pursuit of private profit and offered many benefits to large businesses, but they demanded in return that all economic activity should serve the "national interest".

The bailout is - literally - fascist, because it socializes Wall Street's losses and privatizes its gains, in order to further the merger between corporations and the state, to guarantee loyalty by Wall Street to Big Brother, and to reward the boys who have been "playing ball" with the Bush administration.

It is also, obviously, fascist because of how it is being rammed down America's throat by authorian leaders, the way it would place government in charge of the markets, and to the extent that it would put Paulson's actions above review by the courts.

Nice tie-in to historical definitions

Love and appreciate your work GW. thanks.

Lawmakers split over bailout

Democrats say they reached bipartisan agreement on set of principles, but Republican balk. White House meeting contentious.

Last Updated: September 25, 2008: 6:59 PM ET

Naomi Klein nails it on the head with her book, "The Shock Doctrine"

September 24, 2008

Amy Goodman speaks with Naomi Klein who says the public should be wary of the Bush administration trying to use the crisis to push through more of the radical pro-corporate policies that helped cause it in the first place.



Do these people deserve to know how and why their loved ones were murdered? Do we deserve to know how and why 9/11 happened?

Why fascism happens

This quote is about the inability to stop fascism:

"It was just this automatic continuation of ordinary life that hindered any lively, forceful reaction against the horror.... That still leaves the question why no individuals ever spontaneously opposed some particular injustice or iniquity they experienced, even if they did not act against the whole.... It was hindered by the mechanical continuation of normal daily life."

I think that's what these fascists count on: the mechanical continuation of normal daily life.

When is enough enough?

We have watched this government, both Republicans and Democrats, rape and pillage without any accountability for way too long. They are all fucking crooks. Now they are wanting the citizens who have been struggling under this corporatist mafia for 8 years, to pick up the tab for the monumental mistakes of the investment class. If they lose this money, if they don't get this bailout, none of them will even feel it. None of them will miss a car payment or a mortgage payment. None of them will have to opt for peanut butter sandwiches and thrift store clothes. None of them will have to wonder if they will make their rent this month. None of them will feel it at all. To invest in a hedge fund, you must be ultra-wealthy. You must be able to write a check for a minimum of a million dollars. This doesn't mean net worth. It means liquid money, cash. Fuck these idle rich bastards.

Still a "conspiracy theory"?

So if no one is held accountable, fired, or punished for this situation, is it still a "conspiracy theory" of "incompetence"?

"Analysis: Bush holds Washington blame-free
President points his finger at a lot of culprits, but fails to take responsibility

WASHINGTON - How did it happen, America's grave financial crisis? President George W. Bush offered a bunch of explanations but held Washington completely blameless, painting a picture of a government standing innocently on the sidelines as the economy went off the rails."

The Bush administration is extremely competent at not getting the relevant people fired. Granted, some people were even shamed into resignations, but there has been no justice.

Bush Regime Formula: Criminal negligence and responsibility = more power and authority?

This situation is just so completely bizarre it's hard to believe what is going on.
A 9/11/2008 Resolution: Start Your Own 9/11 Blog

911 and the bailout are connected? You bet they are!

Controlled Demolitions: 9/11 and Economy

Controlled Demolitions: 9/11 and Economy

Afshin Rattansi & Max Keiser on Goldman Sachs & Toilet Paper

"Afshin Rattansi in Tehran talks to Max Keiser in Paris about the end of Wall Street, dollars and toilet paper - and Morgan Stanley and Goldman Sachs no longer being investment banks. "
A 9/11/2008 Resolution: Start Your Own 9/11 Blog


But what we need is a PROGRAM. The idealization of "market forces and prices" (Ron Paul) is not a workable program, as laissez faire leads as surely to complete collapse of the Capitalist System as do the various interventionist approaches. Why not read something from Trotsky's Transitional Program (1938).

Expropriation of the Private Banks and
State-ization of the Credit System
Imperialism means the domination of finance capital. Side by side with the trusts and syndicates, and very frequently rising above them, the banks concentrate in their hands the actual command over the economy. In their structure the banks express in a concentrated form the entire structure of modern capital: they combine tendencies of monopoly with tendencies of anarchy. They organize the miracles of technology, giant enterprises, mighty trusts; and they also organize high prices, crises and unemployment. It is impossible to take a single serious step in the struggle against monopolistic despotism and capitalistic anarchy – which supplement one another in their work of destruction – if the commanding posts of banks are left in the hands of predatory capitalists. In order to create a unified system of investments and credits, along a rational plan corresponding to the interests of the entire people, it is necessary to merge all the banks into a single national institution. Only the expropriation of the private banks and the concentration of the entire credit system in the hands of the state will provide the latter with the necessary actual, i.e., material resources – and not merely paper and bureaucratic resources – for economic planning.

The expropriation of the banks in no case implies the expropriation of bank deposits. On the contrary, the single state bank will be able to create much more favorable conditions for the small depositors than could the private banks. In the same way, only the state bank can establish for farmers, tradesmen and small merchants conditions of favorable, that is, cheap credit. Even more important, however, is the circumstance that the entire economy – first and foremost large-scale industry and transport directed by a single financial staff, will serve the vital interests of the workers and all other toilers.

However, the state-ization of the banks will produce these favorable results only if the state power itself passes completely from the hands of the exploiters into the hands of the toilers.

Financial Fascism

Great clip on AIG, Kroll, 911 and $700B cover-up

For the discussion of the Bush regime's effort at a closing cover-up, start around 30 mins.