Monday, April 06, 2009

More on Summers and Geithner

Glenn Greenwald has a good piece in Salon about what, to save space, we can can the Obaman administration complicity in the financial failures they are claiming to solve. See the link to the good story in Stanford's magazine about the active role Robert Rubin and others back in power played in catastrophic deregulation. See also the link to a Post piece about Obaman efforts to shelter some financial executives income from the caps they themselves imposed.

Last night, France 5's discussion show Ripostes treated the G20 and NATO.
One guest, Jacques Attali, who had headed a commission on the French economy for the Sarkozy government and cannot be considered a strong opponent, nonetheless described the G20 like this: it was a huge victory for the Anglo-Saxon banking system. It supports the Geithner plan, which gives public money to banks to use as leverage in the same way that caused the crisis. There was nice talk about crackdowns on off-shoring banking countries and so on by no enforcement of any kind. And if the G20 plan works to save the financial system, it will block the recovery of the real economy.

For a similarly unhappy assessement from the Financial Times, see Wolfgang Muchau's column today.

And last but not least, Chris Hedges warns against the read road to serfdom

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