The dumping of private debt into the public coffers is only stage one of the current shock. The second comes when the debt crisis currently being created by this bailout becomes the excuse to privatize social security, lower corporate taxes and cut spending on the poor. A President McCain would embrace these policies willingly. A President Obama would come under huge pressure from the think tanks and the corporate media to abandon his campaign promises and embrace austerity and "free-market stimulus."
Klein's full piece from Huffington Post
http://normsnotes2.blogspot.com/2008/10/disaster-capitalism-in-action.html
Written and edited by Norm Scott: EDUCATE! ORGANIZE!! MOBILIZE!!! Three pillars of The Resistance – providing information on current ed issues, organizing activities around fighting for public education in NYC and beyond and exposing the motives behind the education deformers. We link up with bands of resisters. Nothing will change unless WE ALL GET INVOLVED IN THE STRUGGLE!
Friday, October 3, 2008
Naomi Klein: Now is the Time to Resist Wall Street’s Shock Doctrine
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Wall Street didn't cause this mess. It was the poor management of Freddie and Fannie. People like Mudd, Gorelick, Franklin Raines, and James A. Johnson pirated Freddie Mae. In the 80's Freddie almost went out of business from investments in mortgage backed securities and investments in real estate. nomedals.blogspot.com
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