The Bush Junta’s attempt to cow Congress into passing a 21st century economic version of Germany’s Enabling Act has garnered a host of reactions. These are the best I’ve found so far.
Echidne of the Snakes: “How. Dare. They.”
Echidne has found a WSJ piece detailing the obscenely self-serving legislative demands being made by some of the corporate sociopaths who helped engineer this mess.
Lambert at Corrente: “Financial Dictatorship”
Lambert quotes an article written at the Roubini Global Economics Monitor by “LondonBanker,” who is quite done with the Bush Junta’s financial chicanery. The following was the stand-out bit for me; it brought to my mind the Reichstag Fire and the above-mentioned Enabling Act that was one of the fire’s resultant legislative travesties:
At no stage have any of these significant enhancements to the prerogatives of the Federal Reserve, these derogations of explicit statutory limits, these stark departures from past authority and conduct, been the subject of democratic legislative proposal or review, or even public consultation and comment. In the name of exigency, they have all been sprung as fait accompli on a shocked financial community, and since been treated as unquestionable and unreviewable. Every initiative introduced as a temporary measure has become a permanent fixture…
Not all catastrophic events were willful or anticipated, but all were used to force through an agenda that was pre-agreed by a powerful elite that stood to profit from a preferred course of policies that could only be pursued in the undemocratic atmosphere of crisis. Crisis prevents objective determination of the public interest. Crisis undermines both markets and democracy.
I no longer believe that every financial collapse is unanticipated or without behind the scenes orchestration of effects. I no longer trust the authorities to act fairly, honestly, in the public interest….
at-Largely: “Fascist coup nearly complete…”
Larisa Alexandrovna is livid:
[…T]o call the Bush administration’s Wall Street bailout bill anything but fascism in the final stages of overthrowing democracy would be laughable…
[…I]f Congress even considers this Bill, they should be arrested for treason. In fact, if this coup – and it is a coup – is passed by Congress, I advocate total, open revolution (and those of you who know me should know that I do not say this lightly). Forget being a Republican or Democrat for a moment and just realize that you are [thisclose] to becoming slaves.