The Real AIG Conspiracy / By Michael Hudson

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Dateline: / Global Research, March 18, 2009

4 comments on “The Real AIG Conspiracy / By Michael Hudson
  1. An eyeopener of an article! And I commend Prof. Hudson for his perspicacity. We need many more voices and minds like his in government to save this republic from its own intellectual and political confusion.

    One point, though I kind of disagree with the author: In pointing blame, it’s not an “either or” proposition. Pursuing the culprits being shielded by the current focus on the AIG bonuses is not mutually exclusive from exposing such high-handed examples of greed and arrogance as we see at AIG. The crooks who sank the ship and still got bonuses deserve to be raked over the coals and denied any recompense for greed and ineptitude. This small crowd of financial executives, emblematic of the larger disease, is useful for the masses to seize upon this issue. Then, we hope, the fire should begin to draw closer to the puppetmasters, folks like Paulson and his protegés, and, ultimately the phonies in Congress like Barney Frank, Charles Schurman, etc., until the ball reaches the White House itself, where, via Bush and Obama, the selling of this outrageous package of wealth transfer got certified by the highest pulpit in the nation.

    M.F.M., Texas

  2. Hudson describes a classic “bait and switch.” Bait the public into thinking that Congressional “guardians” like Barney Frank and Charles Schumer are looking out for their real interests. Then, when the public has relaxed its vigilance the Schumers and Franks can go back to “carrying water” for finance capitalism’s nefarious pirates–Hank Paulson of Goldman Sachs, the AIG crowd, et. al.

    Commentator Mary of Texas is right about public scrutiny’s need to cast a wider net, moving up from Congress to “the highest pulpit in the nation”–i.e., the White House. But, I think our public scrutiny must go much higher than that. The pulpit, after all, symbolizes a higher authority. I’m not talking about God the Father in this case (only peripherally, perhaps), but the very structures of our government, our economy, our society and electoral processes that beget–generation after generation!–such false witnesses, such fraudulent overseers and treacherous “protectors” as our politicians, news media moguls, etc. Not “What hath God wrought,” but what have we as a people wrought to put our faith and trust into a system that has yielded continual econcomic pain and war after war after war?

  3. Ms. Flores and Mr. Corseri are on the mark with their comments. As Mr Corseri says, we’re living, we have been living, a fraud, a bait’n’switch game of monumental proportions pulled off by perhaps the most unbelievable combination of factors in human history: an anti-intellectual tradition, a nation of immigrants grateful for any improvement on their lot, a huge conservative streak inherited from radical religious settlers and the libertarian undercurrents we also imported from Britain, a cunning ruling class adept at pretending democratic intentions, and a carefully cultivated chauvinistic mentality—all wrapped up and delivered by a smooth political class of charlatans and a prostituted media. Only a deep and lasting crisis will shake the foundations enough to make Americans look beyond their indoctrination.

  4. Pres. Obama’s refusal to even implement the advice of a profoundly conservative economist like Sholes is indicative of the sterility of centrism, which he continues to press on events at the expense of the nation. Is this merely his cold-blooded calculation that the powers that be will not stand for true change, OR is it that he is by nature a centrist? Methinks that either way we go down in flames. Centrism can’t cure a serious crisis, and never will. If nothing else, for those who can see (and learn) Obama will prove that.

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