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'Goldman Conspiracy' must kill reforms
Key Excerpts from Article on Website of MarketWatch (a Wall Street Journal Digital Network website)
Posted: May 10th, 2010
http://www.marketwatch.com/story/goldman-conspiracy-must-kil...
Capitalism is dead. The economy has a new Invisible Hand, the Goldman Conspiracy of Wall Street bankers. This transfer of power happened suddenly. As recently as late 2008 the Invisible Hand was on life support, near death. Suddenly, miraculously the Treasury secretary, Goldman's former CEO, transferred the power into a new Invisible Hand of God, the free-market ideology of Reaganomics ... a power absolutely essential to the survival of Wall Street's mega-bonus culture. Yes, that's why the Goldman Conspiracy must kill financial reforms ... why they will kill effective reform with the backroom support of Obama. This was predicted back in late 2008, even before the bailouts, back when we thought Reaganomics dead. Shock Doctrine author Naomi Klein warned: "Free market ideology has always been a servant to the interests of capital ... During boom times it's profitable to preach laissez faire, because an absentee government allows speculative bubbles ... When those bubbles burst, the ideology becomes a hindrance and goes dormant while big government rides to the rescue," then a neo-Reaganomics "ideology will come roaring back when the bailouts are done. The massive debts the public is accumulating to bail out the speculators will then become part of a global budget crisis," setting up a new bubble, bigger meltdown, and the Great Depression 2 the world narrowly avoided in 2008.
Note: For a wealth of key reporting on the hidden realities of the Wall Street's shadowy operations, click here.
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