[Marxism] Key Obama backer worth $50 billionprofitsfromtaxpayer bailout of Wall Street

Mark Lause markalause at gmail.com
Fri Apr 10 15:51:53 MDT 2009


It takes a certain amount of time for economic impact of a stock
market collapse to unfold.  It takes even longer for the population to
feel the impact and start to respond in any collective and coherent
way.

A very important different between 1929 and 2008 is that the former
happened near the start of the Hoover administration and the latter at
the very end of the Bush administration.  FDR came in on the heels of
a considerable amount of mass protest in 1930-32, including--most
dramatically perhaps--the Bonus march, as well as massive CP-led local
demonstrations of the unemployed.  He also had a million-vote Norman
Thomas push to the left in 1932.

One can't help but wonder what FDR would have done had enjoyed the
dubious luxury of not having to address that kind of mass protest.  Or
if the the arrayed forces of "the Left" in 1932 were finding ways of
why they should parse their votes into ever more specific varieties of
socialisms.

I think it's quite likely--that a revolt from the Obama voting base
will force a rethinking of the administration's course.  (This is much
more likely in terms of domestic questions, though foreign policy will
reflect a tightening on spending, as it did in 1933.)    What we need
to consider is not so much the mind-reading hows and whys of Obama's
rethinking, but what we can do to push the government towards such a
rethinking....

ML




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