IS IT TRUE THAT Al CAPONEs OF OUR TIME DON’T GO TO JAIL, that THEY GO TO
POWER?
Es cierto que OB no tiene otra opcion que cubrir el hueco que deja un clavo con otro de igual tamaño? No sera que ya tiene muchos clavos esta vieja casona de madera asumagada? Es para eso que lo eligió el pueblo a Mr Obama? Que de un NEW DEAL (una nueva estructura economica) que sugirio en varios discursos?. Hoy tiene el ejecutivo, el senado y hasta el judiciary (si asi lo quiere). Es ahora o nunca. O entra a la historia del pais por la puerta grande o va -como sus predecesores- al tacho de basura.
Si
la depresión del 30 fue tragedia, la actual es aún más trágica, aun cuando las
cifras oficiales digan lo inverso. Lo
cierto es que nuestra juventud no tiene futuro en el modelo actual, menos del 40%
de los egresados de universidades logran trabajo estable. El resto no tiene vida segura y esta crisis tiene
hoy dimensión internacional, es lo que se conoce como crisis del modelo
neoliberal. Un joven en Bengazi puede ser fácilmente mercenarizado como soldado
o “freedom fighter” y este puede fácilmente cambiar de bandera si la paga es
mejor en el otro bando. Y lo que ocurre a nivel individual ocurre también a
nivel de sistema. Bastaría el cambio del sistema monetario y el abandono del US
dólar en lo que ya varios países están interesados; y/o, que
se agrave la escalada de guerras en las
que estamos envueltos para que colapse todo el sistema.
La
historia de la crisis anterior y el New Deal como solución no sirve si se usa el
ejemplo solo para recitarlo. Historiadores como Wallerstein sugieren que los círculos
de Vico no giran en torno a los mismos problemas ni son de la misma dimensión. El
New Deal fue solución para un país (EU) y lo que cuenta hoy no es el árbol sino
el bosque. El New Deal tiene hoy que ser
adaptado al nivel global sin caer en el hegemonismo guerrerista pues eso si sería
fatal. De lo que se haga o deje de hacer
en esa perspectiva depende el futuro de
la humanidad.
Es
lamentable decir que no estamos contribuyendo a la solución del problema ni
interno ni global sino a su agravación, pero es lo cierto. Los efectos de la
crisis reciente dentro de los EU no han sido resueltos, solo han sido
ocultados. La tragedia interna no es solo económica y política, es sobre todo ética.
El valor dominante es la acumulación máxima de ganancias, no importa el cómo. Esa es la etica de nuestros lideres. Por eso se dice que la causa de nuestra tragedia no está fuera, está dentro. Son nuestras elites financieras las que
siembran miseria a nivel interno y fuera de nuestras fronteras. Ellos se
enriquecieron ilícitamente y jamás podrán clamar clemencia cuando los de abajo
quieran también enriquecerse ilícitamente por cualquier medio. O cambiamos este modelo o perecemos
todos. Es hoy o nunca.
Ya no se trata de expandir el imperio, eso solo conduce a un callejon sin salida, al final
del mismo nos esperan ampones armados hasta los dientes. Es
cierto, fuimos nosotros quienes los armamos, entrenamos y los mandamos a matar.
Lo hicimos ayer en Afganistan, Irak y en Libya y lo seguimos haciendo aun en Syria. En ese proyecto no hay un minimo de etica, de
coherencia político-militar y menos
aun de principios (ni libertad, ni justicia ni democracia). Esa verdad la sabe todo el mundo.
Lo que hay es derroche insulso de dineros de la nación, dineros que nuestro pueblo necesita y que empresas corruptas como Enron se la apropiaron. Continuar en ello conduce al precipicio. Basta observar, lo ocurrido en Bengazi (Lybia) y luego en Argelia y Mali y Ud me dara la razon. Esas recientes experiencias son prueba contundente de un fracaso que esta en sus inicios y que puede degenerar en una hecatombe nuclear si no desactivamos la carniceria en Syria. Syria es la antesala del conflicto belico con Iran, donde Rusos y Chinos tienen intereses vitales para su economia. La humanidad no quiere ya ningun imperio y menos la de Rusos y Chinos. Basta, ha dicho la comunidad internacional. Solo los ricos quieren esa guerra, tienen ya sus bunkers donde ocultarse cuando ciudades enteras sean barridas del mapa en una hecatombe nuclear. Nosotros no queremos guerras ni que hoy los dineros de la nación se inviertan en ello.
Lo que hay es derroche insulso de dineros de la nación, dineros que nuestro pueblo necesita y que empresas corruptas como Enron se la apropiaron. Continuar en ello conduce al precipicio. Basta observar, lo ocurrido en Bengazi (Lybia) y luego en Argelia y Mali y Ud me dara la razon. Esas recientes experiencias son prueba contundente de un fracaso que esta en sus inicios y que puede degenerar en una hecatombe nuclear si no desactivamos la carniceria en Syria. Syria es la antesala del conflicto belico con Iran, donde Rusos y Chinos tienen intereses vitales para su economia. La humanidad no quiere ya ningun imperio y menos la de Rusos y Chinos. Basta, ha dicho la comunidad internacional. Solo los ricos quieren esa guerra, tienen ya sus bunkers donde ocultarse cuando ciudades enteras sean barridas del mapa en una hecatombe nuclear. Nosotros no queremos guerras ni que hoy los dineros de la nación se inviertan en ello.
La nuestra es una politica imperial basada en el saqueo de recursos ajenos, gracias a la primacia militar, al control del dolar que nos convirtio en el estado tributario mas grande de la historia humana y gracias tambien a la hegemonia mediatica a nivel global. Esos son los 3 pilares en los que se afirma nuestro poder y ninguno de ellos sirve al futuro de la humanidad ni a nuestro pueblo, ni va con los principios que alegamos defender. Los unicos beneficiarios del sistema de poder que impulsamos son las grandes corporaciones multinacionales y un puniado de multi-millonarios. Si se quiere saber el danio que estos hacen a la humanidad entera y la impunidad de la que gozan, miremos lo que ocurre en nuestro pais.
Esos super-ricos son los que se comen el 97% de la riqueza que genera la nacion y es a ellos a quienes no interesa que EU tenga el mas alto indice de mortalidad infantil entre paises desarrollados, que nuestros egresados no tengan futuro ni puedan pagar la deuda que acumularon en sus estudios. A ellos no interesa que el sistema de salud y educacion esten en ruinas. Tampoco les importa que mas del 50% de padres de familia abandonen a sus hijos por tener que ir a trabajar en 2 o 3 part-times mal pagados.
Los ricos de aqui dicen ser americanos y realmente no lo son. Nadie podra detener a grupos armados de reales americanos que les hagan un ajuste de cuentas, como el que ayer previo el Pdte Roosevelt. Durante la gran recesion del 30 el miro con claridad el peligro que se venia y obligo a los ricos de este pais a que realmente se comporten como americanos con el New Deal. El gran despegue economico vino luego, hasta que en los 80 con Reagan y con Clinton mas tarde se apuñaló
a la nación al liquidarse el Glas Steagle Act que permitia frenar el greed o ambicion desenfrenada de los ricos.
Obama esta hoy frente al mismo imperativo historico, o americanizamos a los ricos o ellos destruyen America.
HAZ, enero 18-13
Obama esta hoy frente al mismo imperativo historico, o americanizamos a los ricos o ellos destruyen America.
HAZ, enero 18-13
Listen and read Democracy Now org. This one Reported in Jan 11, 2013:
"FAILURE OF EPIC PROPORTIONS": TREASURY
NOMINEE JACK LEW’S PRO-BANK, AUSTERITY, DEREGULATION LEGACY
Former bank regulator William Black
and Rolling Stone’s Matt Taibbi join us to dissect the career of Jack Lew,
President Obama’s pick to replace Treasury Secretary Timothy Geither. Currently
Obama’s chief of staff, Lew was an executive at Citigroup from 2006 to 2008 at
the time of the financial crisis. He backed financial deregulation efforts
while he headed the Office of Management and Budget under President Bill
Clinton. During that time, Clinton enacted two key laws to deregulate Wall
Street: the Financial Services Modernization Act of 1999 and the Commodity
Futures Modernization Act of 2000. Black, a white-collar criminologist and
former senior financial regulator, is the author of "The Best Way to Rob a
Bank Is to Own One." A contributing editor for Rolling Stone magazine,
Taibbi is the author of "Griftopia: A Story of Bankers, Politicians, and
the Most Audacious Power Grab in American History."
Guests:
Matt Taibbi,
contributing editor for Rolling Stone magazine and author of the book Griftopia:
A Story of Bankers, Politicians, and the Most Audacious Power Grab in American
History. His new article for Rolling Stone is "Secrets and Lies
of the Bailout."
William Black, associate professor of economics and law at the University
of Missouri-Kansas City. A white-collar criminologist and former senior
financial regulator, he is the author of The Best Way to Rob a Bank Is to
Own One.
RELATED
- Matt Taibbi & William Black on Bailout Secrets & How New Foreclosure Deal Spares Banks from Justice Jan 11, 2013 | Story
- Part 2: Barlett and Steele on Media, Govt. Failure to Hold Wall St. Accountable for Financial Crimes Aug 01, 2012 | Web Exclusive
- Oakland City Council Seeks to Cut Goldman Sachs Ties After Bank Profits from Lowered Interest Rates Jul 09, 2012 | Story
- JPMorgan Chase CEO Gets Warm Hill Welcome from Senators Flooded with Millions in Wall St. Donations Jun 14, 2012 | Story
- "Inside Job" Director Charles Ferguson: Where Are the Criminal Prosecutions for Financial Crisis? Jun 01, 2012 | Story
LINKS
- "Jacob Lew: Another Brick in the Wall Street on the Potomac." By William Black (Huffington Post)
- "Secrets and Lies of the Bailout." By Matt Taibbi. (Rolling Stone)
EDITOR'S
PICKS
- Dennis Kucinich on the "Fiscal Cliff": Why Are We Sacrificing American Jobs for Corporate Profits? Dec 28, 2012 | Story
- Dean Baker: The Biggest Myth in Obama-GOP Spending Showdown is the "Fiscal Cliff" Itself Dec 14, 2012 | Story
- "Zero Accountability": Glenn Greenwald on Obama’s Refusal to Prosecute Wall Street Crimes Jul 05, 2012 | Story
- Despite Salary Caps, Treasury Approved Lucrative Exec Payouts at Dozens of Bailed-Out Firms Jan 27, 2012 | Story
- Occupy Wall Street Protesters Swarm NYC Financial District to Mark 1st Anniversary of 99% Struggle Sep 17, 2012 | Story
----------------------------
Transcript
"FAILURE OF EPIC PROPORTIONS":
Treasury Nominee Jack Lew’s Pro-Bank, Austerity,
Deregulation Legacy. http://www.democracynow.org/2013/1/11/failure_of_epic_proportions_treasury_nominee
Former bank regulator William Black
and Rolling Stone’s Matt Taibbi join us to dissect the career of Jack Lew,
President Obama’s pick to replace Treasury Secretary Timothy Geither. Currently
Obama’s chief of staff, Lew was an executive at Citigroup from 2006 to 2008 at
the time of the financial crisis. He backed financial deregulation efforts
while he headed the Office of Management and Budget under President Bill
Clinton. During that time, Clinton enacted two key laws to deregulate Wall
Street: the Financial Services Modernization Act of 1999 and the Commodity
Futures Modernization Act of 2000. Black, a white-collar criminologist and
former senior financial regulator, is the author of "The Best Way to Rob a
Bank Is to Own One." A contributing editor for Rolling Stone magazine,
Taibbi is the author of "Griftopia: A Story of Bankers, Politicians, and
the Most Audacious Power Grab in American History."
JUAN GONZÁLEZ: President Obama is facing criticism for nominating another
former Wall Street executive to become treasury secretary. On Thursday, Obama
tapped his own chief of staff, Jack Lew, to replace Timothy Geithner. Lew was
an executive at Citigroup from 2006 to 2008 at the time of the financial
crisis. He served as chief operating officer of Citigroup’s Alternative
Investments unit, a group that bet on the housing market to collapse.
Lew has also long pushed for the
deregulation of Wall Street. From 1998 to January 2001, he headed the Office of
Management and Budget under President Clinton. During that time, Clinton signed
into law two key laws to deregulate Wall Street: the Financial Services
Modernization Act of 1999 and the Commodity Futures Modernization Act of 2000.
On Thursday, independent Senator
Bernie Sanders of Vermont criticized Lew’s nomination, saying, quote, "We
don’t need a treasury secretary who thinks that Wall Street deregulation was
not responsible for the financial crisis."
At a press conference at the White
House Thursday, President Obama praised Jack Lew’s record.
PRESIDENT
BARACK OBAMA: Jack has the distinction of having
worked and succeeded in some of the toughest jobs in Washington and the private
sector. As a congressional staffer in the 1980s, he helped negotiate the deal
between President Reagan and Tip O’Neill to save Social Security. Under
President Clinton, he presided over three budget surpluses in a row. So, for
all the talk out there about deficit reduction, making sure our books are balanced,
this is the guy who did it—three times. He helped oversee one of our nation’s
finest universities and one of our largest investment banks. In my
administration, he’s managed operations for the State Department and the budget
for the entire executive branch. And over the past year, I’ve sought Jack’s
advice on virtually every decision that I’ve made, from economic policy to
foreign policy.
AMY GOODMAN: For more on the nomination of Jack Lew, as well as other
news about Wall Street, we’re joined by two guest. William Black, author of The
Best Way to Rob a Bank Is to Own One , he’s associate professor of
economics and law at the University of Missouri-Kansas City, former senior
financial regulator. His recent article
for the Huffington Post is called "Jacob Lew: Another Brick in the
Wall Street on the Potomac."
We’re also joined by Matt Taibbi,
contributing editor for Rolling Stone magazine, his latest piece,
"Secrets and Lies of the Bailout," which we’ll talk about in a bit,
author of Griftopia: A Story of Bankers, Politicians, and the Most Audacious
Power Grab in American History.
We welcome you both to Democracy
Now! Professor Black, let’s start with you. Your assessment of Jack Lew?
WILLIAM BLACK: Well, on financial matters, Jack Lew has been a failure of
pretty epic proportions, and he gets promoted precisely because he is willing
to be a failure and is so useful to Wall Street interests. So, you’ve mentioned
two of the things in terms of the most important and most destructive
deregulation under President Clinton by statute. But he was also there for much
of the deregulation by rule, and a strong proponent of it, and he was there for
much of the cutting of staff. For example, the FDIC, the Federal Deposit
Insurance Corporation, lost three-quarters of its staff, and that huge loss
began under Clinton. And the whole reinventing government, Lew was a strong
supporter of that. And, for example, we were taught—instructed by Washington
that we were to refer to banks as our "clients" in our role as
regulators and to think of them as clients.
He goes from there to Wall Street,
where he was a complete failure. You noted that part of what Citicorp did was
bet that housing would fall. That was actually one of their winning bets. But
they actually made a bunch of losing bets, as well. And the unit that he was
heading would have not been permissible but for the deregulation of getting rid
of Glass-Steagall under President Clinton. And you saw, as an example of
Citicorp, why we shouldn’t be doing this. Why would we create a federal subsidy
where all of us, through the U.S. government, are on the hook for Citicorp’s
gambling on financial derivatives for its own account, you know, running a
casino operation? That makes absolutely no public policy sense.
Then he comes into the Obama
administration, and he was disastrously wrong. He tried very hard to impose
austerity on the United States back in 2011, which is—he wanted, you know, the
European strategy, which has pushed the eurozone back into recession, and
Spain, Greece and Italy into Great Depression levels of unemployment.
And this is the guy, after all of
these failures, who also is intellectually dishonest. He will not own up to his
role and deregulation’s role and de-supervision’s role in producing this
crisis—and not just this crisis, but the Enron-era crisis and the
savings-and-loan debacle.
JUAN GONZÁLEZ: Well, Matt Taibbi, your reaction to the nomination of Jack
Lew by President Obama?
MATT TAIBBI: I think there’s a couple things. I agree with everything
that Professor Black said. I think it’s—the symbolism of this choice is, I
think, very important for people, just the mere fact of picking somebody from
Citigroup and from that same Bob Rubin nexus that Timothy Geithner came from.
And, you know, you heard Barack Obama, as he’s introducing Jack Lew, praising
Tim Geithner as somebody who’s going to go down in history as one of the great
treasury secretaries of all time. I think what this tells everybody is that
Jack Lew is going to represent absolute continuity with the previous treasury
secretary, who had a very specific agenda when it came to Wall Street. And I
think we’re just going to expect more of the same, more of the same really
being overt and covert support of these too-big-to-fail institutions that Lew
worked for, Citigroup being the worst and most disastrous example of that kind
of company. So I think it’s—the choice of somebody from that particular firm is
fraught with pretty upsetting symbolism for the country, I think.
AMY GOODMAN: I want to go back to 2010, when Jack Lew appeared before
the Senate Budget Committee for a confirmation hearing after he was nominated
by President Obama to head the Office of Management and Budget. During the
hearing, he was questioned by Senator Bernie Sanders.
SEN.
BERNIE SANDERS: Do you believe that the
deregulation of Wall Street, pushed by people like Alan Greenspan, Robert
Rubin, contributed significantly to the disaster we saw on Wall Street several
years ago?
JACK
LEW: Senator, I—as when we discussed, I
mentioned to you, I don’t consider myself an expert in some of these aspects of
the financial industry. My experience in the financial industry has been as a
manager, not as an investment adviser. My sense is, as someone who has, you
know, generally been familiar with these trends, is that the problems in the
financial industry preceded deregulation. There was an increasing emphasis on
highly abstract leveraged derivative products that got us to the point that, in
the period of time leading up to the financial crisis, risks were taken. They
weren’t fully embraced. They weren’t well understood. I don’t personally know
the extent to which deregulation drove it, but I don’t believe that
deregulation was the, you know, proximate cause. I would defer to others who
are more expert about the industry to try and parse it better than that.
AMY GOODMAN: That’s Jack Lew responding to Bernie Sanders, who, when
President Obama announced his nomination of treasury secretary—to treasury secretary
of Jack Lew, Senator Sanders said, "We don’t need a treasury secretary who
thinks that Wall Street deregulation was not responsible for the financial
crisis." Professor Black?
WILLIAM BLACK: Well, I mean, we can agree that he lacks expertise in the
area, but he was supposed to have expertise. This was supposed to be his area
of expertise, both in his role as OMB head under Clinton, and then, of course,
as being in the industry and actually implementing the fruits of this
deregulation.
So—and he has the history, in one
sense, correct. He says the problem arose before deregulation. That’s true that
derivatives were already a problem before deregulation. And so, Brooksley Born
proposes to deal with the problem by having a regulation to deal with credit
default swaps. And then the Clinton administration, in league with Greenspan,
in league with Phil Gramm, and with one of the important architects of all of
this being Jack Lew, squashes Brooksley Born to destroy the proposed regulation
and to pass something, the Commodity Futures Modernization Act—talk about a
dishonest phrase—that not only said, "You, Brooksley Born, cannot go
forward with this particular regulation," the statute actually said,
"We hereby withdraw all regulatory powers to protect the nation, period.
From the federal government, from the state and local governments, we exempt
you from the gambling laws. We exempt you from the boiler room laws to prevent
fraudulent operations." It’s one of the most extraordinary abusive things
in the world, heavily involved with AIG’s ability to produce not just the
disaster at AIG, but the disaster of credit—of the CDOs that blew up a larger
portion of the world. And those CDOs would not have been possible without these
credit default swaps.
So, this is a guy who designed the
disaster, participated in the disaster on Wall Street, was made rich by it. We
haven’t talked about the fact that he got a huge bonus for destroying—helping
to destroy the world at Citicorp. And he got it through the bailout of Citicorp
by the U.S. government. So he produces disaster, profits from the disaster, we
pay him bonuses for causing the disaster, and then we have the absurdity of the
president of the United States saying that this is a man with a track record of
unmitigated success. It is exactly the opposite, in terms of finance. He is a
worthy successor to Tim Geithner, in that he has screwed up everything
substantively he has ever touched.
JUAN GONZÁLEZ: William Black, I’d like to ask you about another aspect of
Lew’s portfolio: his stance on austerity. You have raised questions in terms of
his continued support of austerity measures, as opposed to efforts by the
government to stimulate the economy. Could you talk about that?
WILLIAM BLACK: Yeah, and this is an irony, as well, in terms of the
political aspects and Obama. So, under Lew, in his new incarnation a while back
as OMB head of—for Obama, I have a piece
that talks about how OMB under Obama sounds almost exactly like the tea party.
So, it adopts all of their rubric about, you know, these terrible social
programs, this terrible safety net and how it’s going to imperil our nation,
and what we need to do is be balancing the budget—in other words, austerity.
Now, had Obama succeeded in
following Lew’s recommendation in July 2011, when they were trying to negotiate
the so-called "grand bargain," which is really the grand betrayal of
the safety net—unemployment in July 2011 was 9.1 percent. Austerity in the
United States would have done just what it did in Europe. Unemployment would
have surged. So, all through 2012, the election year, unemployment would have
been going up well above 10 percent, quite possibly into the 11 and 12 percent
range, which is where it is in Europe. Obama would have been toast; would have
been no chance. He would have been crushed in the election. The Democrats would
have lost control of the Senate, and such. And these folks, even today, are
claiming that the failure to achieve the grand betrayal and to cut the safety
net is their great disappointment. So, they not only tried to destroy
themselves and the country, they are continuing to do that, and indeed, but for
Harry Reid literally throwing the Obama administration’s suggestion that they
do cuts to the safety net in the fireplace and burning it up, they would have
gotten it as part of this interim austerity deal that was just done about eight
days ago.
AMY GOODMAN: We’re going to break, then come back to this discussion
with William Black, professor at University of Missouri-Kansas City, and Matt
Taibbi, Rolling Stone editor. "Secrets and Lies of the
Bailout" [is] his latest piece. This is Democracy Now! Back in a
minute.
----------------------
No hay comentarios:
Publicar un comentario