Thursday, February 19, 2009

Anti-Trust the Aunty-Khrust

A modest proposal from Dave Lindorff of Counterpunch, one of the few remaining bastions of authentic progressive politics: implement Anti-trust. Unlike, say, the frat-boy liberal McFrauds of DailyKOS, Lindorff doesn't cut deals with the Demopublicans (and let's not forget Obama's deal with Henry Paulson, and his agreeing to the GOP-arranged bailout of America's financial giants).

"""Looking at the nation’s largest banks—Bank of America, Citicorp, JP Morgan Chase, Wells Fargo and others—it’s clear that some parts of them are functional. They have, for example, massive deposits. They also have massive debts, many of these toxic and pretty much worthless. Instead of bailing these failed institutions out, which is not going to work anyhow, and which only delays and makes more costly the final day of reckoning, the answer is to have the government carve out the profitable banking parts of these financial institutions, and set them up as free-standing banks, and then let the rest of the carcass of each bank go down the tubes, taking gullible shareholders and bondholders with them.

Then the remaining banks left from this process should be broken up by anti-trust actions into regional or even state entities."""


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