Danny Schechter: Are We On The Verge of The Deluge?

[marmar]

Published on Friday, September 26, 2008 by CommonDreams.org
Are We On The Verge of The Deluge?
New Questions as the Bailout Sparks A War

by Danny Schechter


New York - The Hank and Ben Show was doing so well in the ratings. They crafted a plan -- ok, only 3 pages but still a prodigious effort in an era when so few can agree on the need for heat on a freezing day. But now the great unraveling has begun. Remember Karl Marx's lesson on the dialectic: thesis leads to anithesis resulting in synthesis. Maybe.

They sold the Democrats on the need for a bailout. They made it big so the rest of the world would notice and be impressed. They started out unreasonably demanding total power knowing they would have to compromise and so allow all sides to win something and hence come aboard.

Paulson knew he had to act fast, to make it happen in the same time period in which God was said to created the world. The 7 Day clock was ticking and they seemed headed for the endzone. A former football player, he avoided blocks by Nancy and tackles by Barney and was ready to throw a Hail Mary Pass if all else failed. President Bush was awakened from his slumber, given a script and a role to play in his White House pulpit. When his own party balked, he summarized the problem this way:

"This sucker could go down."

It wasn't clear who was the sucker; the system, the taxpayers or both. But it didn't matter. The credit markets were seizing up. Washington Mutual imploded and the hard rain that Dylan warned us about was falling ominously on Washington and Wall Street at the same time. ......(more)

The complete piece is at: http://www.commondreams.org/view/2008/09/26-10

[snappyturtle]

1. Straight forward opinion article. It's right on the mark....unfortunately. K&R

[Karenina]

2. . .