Thursday, July 17, 2008

HOW SUBPRIME POLITICIANS, LOBBYISTS AND BANKERS CAUSED CRISIS

3 Comments:

At July 17, 2008 7:41 PM, Anonymous Anonymous said...

These kind of analyses remind me of Warren Brown's sage admonition:

"Abandon your conspiracy theories, your worries that global oil companies are gouging us at the pump. For the record, they are. It's the kind of profiteering that accompanies any crisis -- war and rumors of war, hurricanes, or other actual or imminent disasters.

"What the oil companies are doing isn't moral. Nor is it illegal. But it is business.

"Crises usually are profitable for people positioned to exploit them; and they usually are costly for those who aren't."
- A Gas Crisis 30 Years in the Making (tinyurl.com/6ypkcz)

Or, put another way -- with regard to the current ProRev frontpage cartoon caption: "Capitalism necessitates an oppressed underclass? I had no idea!" -- the evolutionary nature of the human primate necessitates an oppressed underclass.

As a species we're not remotely close to transcending or "outgrowing" our hierarchical, anthropological reality.

Natura non facit saltus.

 
At July 17, 2008 11:45 PM, Anonymous Anonymous said...

On the other hand, nothing comes without a price.
As Emerson wrote in his essay Compensation:
"The absolute balance of Give and Take, the doctrine that everything has its price, and if the price is not paid, not that thing but something else is obtained, and that it is impossible to get anything without its price, is not less sublime in the columns and ledger than in the budgets of states, in the laws of light and darkness, in all the action and reaction of nature."

Nemo malus felix.
Cheers!

 
At July 19, 2008 9:11 AM, Anonymous Anonymous said...

"Nemo malus felix"

If only that were true. It depends on perspective and timing.

But I do agree with Emerson: "it is impossible to get anything without its price".

--

"They got what they wanted, and it cost them everything they needed."
- The decline and fall of the former United States of America (tinyurl.com/342hvw)

 

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