As Kaptur said, given the size and scope of "the largest transfer of wealth from the American people to the biggest banks in this country," one would expect there to be massive public interest in what happened and why, and, more so, whether any of this is being fixed (it plainly isn't). One would particularly expect the Democratic Party -- which has long branded itself as being the populist party against Wall Street -- would be leading that charge, for political benefit if not for substantive reasons. But that's clearly not happening, and the primary reason why is because both political parties, as institutions, are dependent on and thus controlled by the very industry that is at the heart of it.I keep hoping that I don't live to see how far the US will go along this road ... which means that I hope that we can restore some for-the-people, by-the-people and of-the-people to our government and if that does not happen that at the very least the worsening does not completely stop my enjoyment of life ... as in reality I'm in no hurry to leave it.
Among the two parties, there's no outlet for the populist anger that Kaptur understands and is voicing because each party is eager to serve the interests of those who fund them. And that's why Democrats have largely ceded the populist anger over Wall Street to GOP operatives who are exploiting the "tea party" movement as the only real organized citizen activism over these issues. ...
This is hardly unique to the banking industry. This is how the political system works generally. Earnest, substantive debates over this or that policy are so often purely illusory, as the only factor that really drives that outcomes is the question of who owns and thus controls the political system. That central fact subsumes just about everything else.
Saturday, October 10, 2009
Glenn Greenwald writes: