Lawless Capital, Rushing to Armageddon
A Black Agenda Radio commentary
By: Glen Ford
The fundamental law of capital – the system’s need to extract by any means possible ever increasing returns on investment, or die – brought the world to the current catastrophe. Inevitably, despite all the noise about the need for transparency and tightening of regulations on the behavior of capital, the system’s response to its crisis is to descend into even greater depths of lawlessness.
The frenzy of unchecked illegality pulsates outward from the chaotic center of crisis and criminality: Wall Street, which has succeeded in establishing a kind of privatized martial law economic regime in the waning months of the Bush kleptocracy. The $700 billion “bailout” is revealed as a brazen bait-and-switch bamboozlement, in which Goldman Sachs Family Don Hank Paulson, under color-of-law as Treasury Secretary, ignores the terms of congressional legislation to dispense mountains of public wealth to his bankster friends as he sees fit. In return for their cut of the loot, the banking mafia give the public – nothing! No recycling of the billions into loans to small business or college-bound students or any of the intended beneficiaries. [...]
If there is one person who possesses the moral capital to demand an accounting from the conspirators, it is Barack Obama [...]
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