"The Big Takeover: AIG, The Fed, etc.
This is amusingly wild-eyed stuff from, of all places, Rolling Stone magazine on AIG, the Fed, etc. it is enthusiastically written, even if somewhat hyperbolic in its claims. For example, just because the writer hasn't seen the hodge-podge -- Term Auction Facility, the Term Securities Lending Facility, the Primary Dealer Credit Facility, etc. -- of Fed credit programs on billboards doesn't make them "secretive".
Anyway, it's worth a read:
It's over — we're officially, royally fucked. no empire can survive being rendered a permanent laughingstock, which is what happened as of a few weeks ago, when the buffoons who have been running things in this country finally went one step too far. It happened when Treasury Secretary Timothy Geithner was forced to admit that he was once again going to have to stuff billions of taxpayer dollars into a dying insurance giant called AIG, itself a profound symbol of our national decline — a corporation that got rich insuring the concrete and steel of American industry in the country's heyday, only to destroy itself chasing phantom fortunes at the Wall Street card tables, like a dissolute nobleman gambling away the family estate in the waning days of the British Empire.
"no empire can survive being rendered a permanent laughingstock"
I'm not so sure of that, and, truly, it sounds like an admirable thing to attempt.
"like a dissolute nobleman gambling away the family estate in the waning days of the British Empire."
Actually, that's why one of my ancestors ended up here in the US. His prose reminds me of Hunter Thompson talking about Lord Bute.
"when the buffoons who have been running things in this country finally went one step too far. "
It's way too soon to call that one.
It reads as if he just realized all this, sat down at his keyboard with "eyes like crushed grapes", as Hunter Thompson would say, and wrote until he passed out. I was sorry it came to an end.
By the way, that earlier post with the debate was excellent. It did remind me of this:
"Not that Mr. Ferguson expected a Coulter-Maher face-off to rival the Lincoln-Douglas debates. “It’s like the Battle of Stalingrad,” he said. “Any sensible person would want both of them to lose.”
I felt that way about Wall Street and the Government in that debate. They were both losers