The modern fascism
I think I've read this before, but... I'm copying a post verbatim, but somehow I don't think the author would mind.
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One side of the Atlantic implements an oppressive law, tax, or spy on your own citizens regime, and then the other side of the Atlantic says, see they did it and it was good so we shall do it too and we can do it even better. Repeat over and over and.... BAMMMM ..... you are living in Fascist world.
Both sides of the Atlantic are also passing these same obscene laws because the same multinationals are lobbying, bribing and pressuring politicians the world over to legislate their profitability.
At this point I mostly debate if I lived in a world dominated by Fascist governments or governments which are for all intents and purposes organized crime syndicates, I think a little of both. They are taking vast sums from ordinary people and transferring it to their rich friends and themselves. It boggles the mind that working people in the U.S. are taxed at least 25% income tax and 12.5% payroll taxes(counting the employer half) for 37.5% at a minimum. Billionaire hedge fund operators are taxed at 15%. These same hedge funds manager tax their own clients more than that, over 20% (2% management fees and 20% of profits).
I was watching Frontline on PBS last night on Brookseley Born [wikipedia.org]. A great story. During the Clinton administration she tried to use the authority she had at the obscure Commodities Futures Trading Commission to regulate derivatives. If she had succeeded she might well have prevented at least the AIG part of the recent financial crisis. Instead she was crushed by Alan Greenspan, Phil Graham, Bob Rubin and Larry Summers. Long Term Capital Management collapsed during this period trading derivatives, nearly sparking a major panic, proving Born right and they continued to crush her.
Alan Greenspan supposedly told Born that she was NOT suppose to pursue fraud in derivatives or commodities though it was explicitly in her agencies charter to do just that.
Bob Rubin went on to help lead Citigroup in to complete ruin and billions of tax payer bailouts.
Phil Graham's wife was on the board at Enron, he went to UBS where his Swiss bank ran tax shelters for thousands of wealthy Americans, and was a leading player in the collapse during which he called us all a bunch of whiners.
Larry Summers is now Obama's senior economic adviser.
All four of these people should be run out of every government position, boardroom or any other position of authority because they are a delightful mix of stupid and criminal. Its especially obscene for Larry Summers to be calling the shots on financial matters in the Obama administration. Paul Volcker might actually fix the bankster problem but he has been completely shut out by Summers and Geitner.