Blaming the victims of the crisis

Recently I was arguing the same point this article makes with some petty bourgeois acquaintances, one a hopeless reactionary, the other a closet libertarian. They were making Wall Street's case that the entire financial crises is due to the government forcing innocent institutions like Countrywide to lend to brown (read Latino) and black people. I said "even if they did, and loans were made to every single black and brown person in the country, that still only accounts for roughly 20% of the loans. How do you account for the other 80%?" They were unable to answer it, and just reiterated the right wing 'talking points.'

Blaming the victims of the crisis

Called the Congressperson!

I have very little faith in bourgeois representative democracy, but there are times when you can get a little bit of input. While we all know struggle is far more important than voting, the looming danger of HR 3997, the Emergency Economic Stabilization Act was worth the quick phone call to voice my opposition. Representative Xavier Becerra, had the good sense (or at least political acumen) to vote against the first version of the bill. I called his office today to thank him for that and to strongly state my opposition to the Senate revisions. Lets hope the House rejects the "Bankster Bailout" again. While Bush and all the other ruling class representatives are trying so hard to convince us we are all in the same boat, we always need to remember -- "the working class and the employing class have nothing in common."

Called the Congressperson!

Care to try again, Dick?

"The fact is, the markets work, and they are working," said Cheney in an interview in his White House office. "And people - some of the big companies obviously - have taken risks. Risk means risk. And there's an upside as well as a downside in some of the choices they've made. We have to be careful not to have this set of developments lead us to significantly expand the role of government in ways that may do damage long-term for the economy."

The same goes for Democratic efforts to curb the predatory lending practices that left naive homeowners in trouble, says Cheney: "We don't want to interfere with the basic, fundamental working of the markets."

Your markets are working alright! Thanks Dick, for making our case for socialism even more compelling and easier to win people over to. While the real solution to the crisis is a socialist revolution, here are some stopgap reforms to carry us through the year.

• Use the newly nationalized Fannie Mae and Freddy Mac to refinance all troubled mortgage holders with 30 year fixed rate notes on a fair and realistic valuation of their homes, not the over-inflated housing bubble prices. Let the investment banking industry take the losses on all refinanced price differences.


• Institute an immediate and progressive wealth tax with severe penalties for capital flight.


• Institute a immediate windfall tax for record profit making petroleum corporations, in fact, let's extend that to all the non-bid contract war profiteers as well.


• Repeal the Bush tax cuts for the obscenely rich, create a much more progressive tax structure, and remove all tax loopholes and subsidies for corporations.


• End the brutal occupations of Afghanistan and Iraq (with half of that 2.1B a week being used for reparations).


• National single payer healthcare.


• Take the 700B and rebuild inner cities, create a national public transportation system, and invest the rest in public research and development of alternative energy sources.

Care to try again, Dick?

Black September article compilation

Black September article compilation