So many Clinton appointees, sowing seeds of destruction - Gorelick, Raines, Rubin ... but then, no one appears to have cared enough to change course afterwards, so it’s tough to make a partisan case.
I hope there’s something worth reading in the other parts. This one is best described by the word “turgid”.
Mr. Liu is an admirer of the Chinese Communists. Here is a choice quotation from his website:
“Chairman Mao Zedong, the greatest revolutionary in modern Chinese history, has been unfairly vilified by the neo-liberal West, but he set a decaying China on the path to renewed greatness and provided a vision for a new China that will survive for centuries to come. In fact, Abraham Lincoln, the 16th president of the United States, is deified, while Mao is demonized. Lincoln’s assault on due process was decidedly more violent than Mao’s alleged autocratic leadership style. The difference between Lincoln and Mao is that Lincoln’s high-minded quest for equality in practice allowed a few to monopolize the resultant national wealth, while Mao tried to distribute it to all equally.”
I now reaclall that I’ve run into this guy before on another website, and in my opinion nothing he writes is worth reading.
Just have to point out one "money quote" here deep in the article:
President Roosevelt appointed Joseph P Kennedy as first SEC chairman. Kennedy was a highly successful speculator on Wall Street with a wide network of business dealings, some of which were questionable, whose appointment Newsweek described as "a former speculator and pool operator will now curb speculation and prohibit pools."
OK, I’ve now read (in some parts “scanned”) this because it is somewhat unreadable. I find the jumping from depression to 2007-8 liquidity crisis to the formation of GM and the beginning of the Progressive era — all a bit jarring.
I agree (I think) with this guy’s premise that there is great potential hazard facing the country and the world tied to our fiat money system(s), but much of the foundation for this guy’s thesis is foolish utopianism: the primary role of government should be the the equitable sharing of wealth? That’s where he lost me. And I doubt I’ll try reading the introductory 80 pages that must precede this piece.
Asia Times.com is a winner.
The vessel with the pestle
has the brew that is true.
Robert Rubin helped create the recession in 2000-1 and was not blamed at all. He was lionized.
And then he took over at Citigroup and he has driven that company into the ground. At least he will avoid being lionized this time since there is no Republican he can turn the mess over to. But there is no evidence yet that the media has recognized that Rubin is a bubble waiting to burst as a manager.