W. Kandinsky: "There are no 'musts' in art." T.S. Eliot: "There is no freedom in art." Dostoievski character, after the ancient Middle East epigram: "Everything is permitted." (R-rated weblog. Since one has been advised there is no Literature anymore, or even literature, only writing, one proceeds on the premise that this weblog qualifies as not-meaningless, since it is, or appears to be, a form of "writing." Image: Banksy.)
Wednesday, March 26, 2008
Bear Stearns Bailout Illustrates Klein Thesis
In The Shock Doctrine Naomi Klein states (p. 140): "[I]f an economic crisis hits and is severe enough--a currency meltdown, a market crash, a major recession--it blows everything else out of the water, and leaders are liberated to do whatever is necessary (or said to be necessary) in the name of responding to a national emergency. Crises are, in a way, democracy-free zones--gaps in politics as usual when the need for consent and consensus do not seem to apply." In today's New York Times, Andrew R. Sorkin writes (p. C10): " [T]he Fed's fingerprints were all over the new pact [by means of which JPMorgan would acquire Bear Stearns for $10 per share rather than the originally announced price of $2 per share]. In an action almost unprecedented in takeover history, JPMorgan bought 39.5 percent of Bear on the spot to ensure that it would have close to a majority of the [shareholder] votes to approve the deal. That agreement completely disregards New York Stock Exchange rules that prevent anyone from buying more than 20 percent of a company without a shareholder vote. Other parts of the new agreement either stretch the rules or disregard years of precedent in Delaware, where both banks are incorporated. Of course, all this rule-bending was done with the tacit, if not outright, approval of the federal government."
Posted by Richard McNally at 9:30 PM
Labels: Capitalism, Naomi Klein
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Tell me about it. This is what happened to my country exactly. I’ll give example how as you quoted the quoter, “Crises are, in a way, democracy-free zones--gaps in politics as usual when the need for consent and consensus do not seem to apply.
" We, my country, fell through the gap. We got GAPPED
I am from Pakaslovokia which used to be Peoples Republic, now no people so just Republic.
Was before that, Occupied Territories Of Western Peninsula Of Shypiano.
Before occupation, was Strong-Hold Of Militia Left Over From Blood Bath Against Usual Unknown Rebel Forces. We changed names so much we got sick of changing flag. So we just used a bloody sheet which everybody had one or two at least at home so we could all afford and proudly display.
Then after all the death and fighting and bad knees and bad backs, it was found that no oil was to be found so we became known just as refugees even though we were not looking for refuge but stayed home and watched broken TV’s. For example, I have two broken TV’s. One has broken picture but good sounding. Other TV had broken sound but good picture so I play both at same time which is hardship but worth it. But was it worth all the blood and killing to have only two bad TV ‘s. No! Would you? You want more!
Since we no longer fell under UN category of country, republic, state, seceded state, or to become state, or in secession process, or war-torn state, civil-strife, region, territory, rebel-state, or religious fanatics with connections, or vicious forces to be reckoned with (all UN recognized groups), we received no aid, no military support, no nothing. We were of no economic or political use to anybody so we don’t exist. I’ll explain more later. Got problem with TV’s.
Okay. One time we got hopes up when we saw guns on wheels, trucks, big guns, and men wearing suits with bombs on them. We hoped even for hostile occupation what would have been something at least! At least recognition we exist and maybe could be threat to somebody! They could make us slaves to them and let us watch good TV’s when resting from slaving. When tanks and trucks stopped at our town, assistant to leader came out of nice jeep to say who we are. He used signals, made symbols, tried different sounds of languages, showed pictures made piles with sand drew lines with sand then kicked sand till we said Stop we know English.
He asked who we were so he could kill us or save us. We told them all our different names which they never heard which made us think they did not really know good Englishes. So our two or three girls ran home and came back showing soldier men two flags of ours and one girl brought broken TV for him to fix but he kept it. He gave her cigarettes. They knew by our good speaking English that we were no economic or political use to them that we should move because much more guns on wheels and trucks would be driving through our front yards. We did good acting job learned from TV’s how to show we knew English no more. Still they came on our front yards, but small kids and big ones with bad TV’s watched them come through for amusing to us. Now we hope soon for soldier to come back with fixed TV or even broken is good and we’ll give cigarettes back for the deal. He tried.
That was maybe biggest day in history of all Pakaslovokia.
If you want to learn or know more about our Pakaslovokia, or our GAPPING or refuge lifestyle, or how to make flags, we are happy to have you come. We are no economic value or political value to you we should warn. Come to see us. We do not know where we are to tell you how though.
So, find us this way. When you watch good TV’s you can see our flags. When you do, that’s where we are. That we will be happy to know, as much.
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