Lawrence, KS - Events Local News Groups Contact
Real Change Depends on Stopping the Bailout Profiteers
By Indy Media / filmsforaction.org
Nov 5, 2008

By Naomi Klein. From TheHuffingtonPost.com:

To understand the meaning of the U.S. election results, it is worth looking back to the moment when everything changed for the Obama campaign. It was, without question, the moment when the economic crisis hit Wall Street.


Up to that point, things weren't looking all that good for Barack Obama. The Democratic National Convention barely delivered a bump, while the appointment of Sarah Palin seemed to have shifted the momentum decisively over to John McCain.


Then, Fannie Mae and Freddie Mac failed, followed by insurance giant AIG, then Lehman Brothers. It was in this moment of economic vertigo that Obama found a new language. With tremendous clarity, he turned his campaign into a referendum into the deregulation and trickle down policies that have dominated mainstream economic discourse since Ronald Reagan. He said his opponent represented more of the same while he stood for a new direction, one that would rebuild the economy from the ground up, rather than the top down. Obama stayed on this message for the rest of the campaign and, as we just saw, it worked.


The question is now whether Obama will have the courage to take the ideas that won him this election and turn them into policy. Or, alternately, whether he will use the financial crisis to rationalize a move to what pundits call "the middle" (if there is one thing this election has proved, it is that the real middle is far to the left of its previously advertised address). Predictably, Obama is already coming under enormous pressure to break his election promises, particularly those relating to raising taxes on the wealthy and imposing real environmental regulations on polluters. All day on the business networks, we hear that, in light of the economic crisis, corporations need lower taxes, and fewer regulations - in other words, more of the same.


The new president's only hope of resisting this campaign being waged by the elites is if the remarkable grassroots movement that carried him to victory can somehow stay energized, networked, mobilized - and most of all, critical. Now that the election has been won, this movement's new mission should be clear: loudly holding Obama to his campaign promises, and letting the Democrats know that there will be consequences for betrayal.


The first order of business - and one that cannot wait until inauguration - must be halting the robbery-in-progress known as the "economic bailout." I have spent the past month examining the loopholes and conflicts of interest embedded in the U.S. Treasury Department's plans. The results of that research can be found in a just published feature article in Rolling Stone, The Bailout Profiteers as well as my most recent Nation column, Bush's Final Pillage.


Both these pieces argue that the $700-billion "rescue plan" should be regarded as the Bush Administration's final heist. Not only does it transfer billions of dollars of public wealth into the hands of politically connected corporations (a Bush specialty), but it passes on such an enormous debt burden to the next administration that it will make real investments in green infrastructure and universal health care close to impossible. If this final looting is not stopped (and yes, there is still time), we can forget about Obama making good on the more progressive aspects of his campaign platform, let alone the hope that he will offer the country some kind of grand Green New Deal.


Readers of The Shock Doctrine know that terrible thefts have a habit of taking place during periods of dramatic political transition. When societies are changing quickly, the media and the people are naturally focused on big "P" politics - who gets the top appointments, what was said in the most recent speech. Meanwhile, safe from public scrutiny, far reaching pro-corporate policies are locked into place, dramatically restricting future possibilities for real change.


It's not too late to halt the robbery in progress, but it cannot wait until inauguration. Several great initiatives to shift the nature of the bailout are already underway, including bailoutmainstreet.com. I added my name to the "Call to Action: Time for a 21st Century Green America" and invite you to do the same.


Stopping the bailout profiteers is about more than money. It is about democracy. Specifically, it is about whether Americans will be able to afford the change they have just voted for so conclusively.




Naomi Klein is the author of The Shock Doctrine: The Rise of Disaster Capitalism, now out in paperback. To read all her latest writing visit www.naomiklein.org


Read more Election Day Liveblogs, Reaction and Analysis from HuffPost Bloggers

0.0 ·
0
Trending Today
What Happens When You Rebel Against the Herd
Sofo Archon · 19,439 views today · Are You Truly Living Your Life? You live, but are you living the way you want to live, or the way others want you to live? You choose, but are your choices based on...
10 Words Every Girl Should Learn
Soraya Chemaly · 7,939 views today · "Stop interrupting me."  "I just said that." "No explanation needed." In fifth grade, I won the school courtesy prize. In other words, I won an award for being polite. My...
How Norway Avoided Becoming a Fascist State
George Lakey · 4,391 views today · Instead of falling to the Nazi party, Norway broke through to a social democracy. Their history shows us polarization is nothing to despair over.
How a Lack of Touch Is Destroying Men
Mark Green · 4,073 views today · Why Men Need More Platonic Touch in their Lives
Murdoch and Trump, Sitting at the Tee, S-C-H-E-M-I-N-G
Frankie Boyle · 3,919 views today · Say what you like about Donald Trump but he's already done things people said were impossible, like made Twitter worse. Looking back, the Harambe situation is the closest...
The Coming War on China
John Pilger · 3,906 views today · A major US military build-up – including nuclear weapons – is under way in Asia and the Pacific with the purpose of confronting China. John Pilger raises the alarm on an...
Artificial Ethics and the Search for Intelligence
5 min · 2,151 views today · How to stop a robot turning evil.  It's 2027 and Mental Endeavours Ltd has a problem with their flagship robot Günther. How do you program an intelligent machine not to...
Everything We Think We Know About Addiction Is Wrong
6 min · 2,131 views today · What causes addiction? Easy, right? Drugs cause addiction. But maybe it is not that simple. This video is adapted from Johann Hari's New York Times best-selling book 'Chasing...
Real Underground Kingdom That Has Existed for Millions of Years Went Unnoticed, Until Recently...
Kid Krunk · 1,906 views today · 28 Stunning Photos Of The World’s Largest Cave
What Would It Take to Stop the Raids?
CrimethInc. Ex-Workers Collective · 1,741 views today · Responding Effectively to the Immigration and Customs Enforcement (ICE) Attacks
Thich Nhat Hanh: How We Can Learn to Love Our Enemies
5 min · 1,203 views today · This is a short excerpt from Peacemaking. I often think about this story when I think about the kind of activism I would like to bring into this world. I want to help build a...
Your Lifestyle Has Already Been Designed (The Real Reason For The Forty-Hour Workweek)
David Cain · 1,196 views today · Well I’m in the working world again. I’ve found myself a well-paying gig in the engineering industry, and life finally feels like it’s returning to normal after my nine months...
Simple Social Experiment Shows We Are More Than The Boxes People Put Us In
3 min · 1,154 views today · We live in a time where we are quick to put people in boxes. Maybe we have more in common than what we think?
John Lennon's "Imagine," Made Into a Comic Strip
John Lennon. Art by Pablo Stanley · 1,066 views today · This is easily the best comic strip ever made.  Pabl
I Am Not Your Negro (2017)
3 min · 1,041 views today · In his new film, director Raoul Peck envisions the book James Baldwin never finished - a radical narration about race in America, using the writer's original words. He draws...
A Hauntingly Beautiful Short Film About Life and Death
5 min · 785 views today · The Life of Death is a touching handdrawn animation about the day Death fell in love with Life.
How Wolves Change Rivers
4 min · 757 views today · When wolves were reintroduced to Yellowstone National Park in the United States after being absent nearly 70 years, the most remarkable "trophic cascade" occurred. What is a...
Today I Rise: This Beautiful Short Film Is Like a Love Poem For Your Heart and Soul
4 min · 714 views today · "The world is missing what I am ready to give: My Wisdom, My Sweetness, My Love and My hunger for Peace." "Where are you? Where are you, little girl with broken wings but full...
What Makes Call-Out Culture So Toxic
Asam Ahmad · 688 views today · Call-out culture refers to the tendency among progressives, radicals, activists, and community organizers to publicly name instances or patterns of oppressive behaviour and...
Surviving Capitalist Depression
Michael Emero · 539 views today · We live in a toxic society filled with toxic people. Even the ones with the best hearts- including ourselves- have been raised in ignorance, with disinformation. Our examples...
Load More
What's Next
Like us on Facebook?
Real Change Depends on Stopping the Bailout Profiteers