Dobbs Channels Naomi Klein??

[chomsky88]

Hmm. A crisis--and being told that the taxpayers have to bail out the rich to the tune of 700 billion dollars or the world as they know it will end. Anyone still doubt the validity of Naomi Klein's Shock Doctrine?

[HerrSchenkel]

I thought her shock doctrine was that the evil free market types create crises so that we can privatize everything. The problem with banks was created by democrats pushing for home ownership, but it wasn't an intentional crises. And bailing out banks is not a capitalist move. I can assure you that Milton Friedman (the devil, according to Naomi Klein) would be against all the bailouts.

[jkirk1626]

Government intervention caused this, not the free market. FDR's big government dream created Fannie in 1938 to provide loans the market wouldn't and shouldn't have. Freddie was created by the government for the same purpose. The gov guaranteed these bad loans that the market never would have allowed. This is not a market failure. Saying that it is dishonesty or ignorance. Errocrasso, Let's hope you're not right. If it's structured for repayment, it won't be.

[gnogne2]

come on, stop blaming intervention. read up on the history of fannie, freddie, there were 70 years between 1938 and now.

and that dream of the wise and almighty market fixing everything eventually, if left alone, who would still honestly believe that other than lazy business school freshmen.

there's nothing going to trickle down ever, and you know it.

[jkirk1626]

Well gnoge2,

You might mean 70 years 'worth' of intervention. The gov created the schemes, mandated the loans, and incessantly tweaked them for that long. As for dreamers and laziness, parroting obsolete disproven 1960s Marxist slogans is lazy. The dream world where market capitalism didn't work ended with economies that failed, in case you missed the memo on the Berlin Wall. If trickle down didn't work, North Korea would have illegal aliens; its Workers' Paradise may just be in a slump.

[gnogne2]

you equate FDR with marxism with stalinism?!? give the man some credit. for all we know there could have been a marxist revolution without him.

and that argument that the fall of the Berlin Wall proved some kind of historic justification for cutthroat capitalism? i have friends who demonstrated in east berlin for the wall to come down but had something entirely different in mind than having investors suck their already sparse infrastructure dry for a quick buck, which eventually happened.

[gnogne2]

and look at poland, russia, bulgaria, rumania, great examples of blooming free markets where the riches keep trickling down, right? ;)

you like to paint it black and white, either free market with no regulations or North Korea with all the works. that is ideological thinking.

are you saying it's not worth to work on figuring out a third way? or a fourth? a fifth even? what we have is not working as well as it should, you must agree with that.

[errocrasso]

The american TV doesnt say the word, but what happened was SOCIALIZATION to keep alive the economy.

Bye bye, neoliberal fantasies!

[trader1963]

Unfortunately financial tv networks, subservient to big business interests, conveniently ignore mentioning the source of the crisis which is globalization. Globalization = loss of jobs through outsourcing and wage pressure on existing jobs = less income for Americans to make their mortgage payments = collapse of financial institutions. Big business thought that the gains from lower production costs would more than offset the destruction of the American market. They were wrong.

[indoctus41]

trader1963:

It's very hard to disagree with any of your points.

If gov'ts weren't bought off, they could easily apply pressure to maintain quality jobs and wages by this simple doctrine.

"If a company desires to make its products outside of the US, these products will be subject to tariffs and duties that will offset any gains made at the expense of American workers."

It's really simple, but hard to do of course if you've already accepted a bribe.

[JustinR81]

Really interesting. Good point you made.

[rooley]

Sadly, unlike the other times our govt. scared the shit out of us to get us to go along with their plans, this time the threat is real. Even more worrisome, this plan to "save the economy" might not work.

Stock up on canned goods and tighten you wallets, ladies and gentlemen, because shit might get mighty ugly around here real soon.

Then again, maybe not. It's hard to know what to think of all the nonsense flying around about economics.

[Onetimerule]

Capitalism is an infinite crisis.

[zzzxxyy]

I think this country needs to blend socialism with whatever is good with communism.

[zzzxxyy]

I mean capitalism. Holy shit, I fucked up! SORRY!

[indoctus41]

zzzxxyy:

If the companies that are being bailed out were as crucial as they appear to be to the economies of the US & the World, then they should either be heavily regulated or nationalized.

[zzzxxyy]

Well, deregulation and letting these do nothing blowhards walk away with billion dollar severance packages is fucking disgusting. Those at the top are the reason we're in this mess. That's why the GOP blocked the bailout: No money for the rich!

[PressPlayAlready]

Facts every sane or insane American should know, but probably dont.know it

YET.

1) The US economy is in a severe downturn teetering on a depression.

2) The unemployment rate surged last month to 15 %last month.

3) The biggest one month jump, since 1984.

4) High price of oil is hitting Americans hard.

* Brought to you by the "CAN YOU HEAR ME NOW" Campaign. Check your local intel pentium processor for details.

**** NOW with ROLL-OVER MESSAGES ****

**** Void where prohibited **** +tax

[reeblite]

we need to do mass emails to our senators and and congress RIGHT NOW, demanding WE get the money to put back into the economy and the people with mortgage problems can pay some of their mortgage payments for the next few, 6 or 8 months until things are sorted out. Screw wall street, I worked for big wire houses in the late 1980's, to mid ninties, and could not believe what went on. I worked for a HUGE bank stock broker, who went to jail along with seven bank presidents. That's for starters.....

[doobtribe]

I tip my hat to L. Dobbs, fine sir and reporter.

[reeblite]

our current secretary of the treasury is a former goldman sacs CEO. A little too biased maybe? I love Lou Dobbs. Shame on our leaders and leaders to be. Why didn't we learn after the savings and loans debalce and regulate the banks again? Which was deregulated by Reagan. Go Lou!

[chrisgterry]

Does anyone remember that game Monopoly? remember player that bought everything he landed on. Image when that player ran out of money. Mortgage after mortgaged until he hoped to be put in jail. Everyone could afford houses and hotels on there property. But this player hoped to go to jail so he didn't have to come up with more money. Now imagine if someone decided to open the other package of money. The extra pack, packaged for replacing torn or destroyed money.

[chrisgterry]

Now emagine if someone decided to open the other package of money. The extra pack for replacing torn or destroyed money. They hand him a new pack of money and say here you go keep playing. That what happening with the buy outs right now. I say if they bought too much too fast. Smaller banks will profit buying those loans out for pennies on the dollar.People who can't afford their home still will not be able too after the bail out. In fact, They will most likely be even less able to pay for it.

[anotherday24]

stop watching Fox, MSNBC, CNN and all MSM outlets...do your own research and become involved. Take your country back, America. Stop being the sheep you have been and wake up, the world is waiting for you to WAKE UP.

[amdura]

Bush is going to try and scare the crap out of people tonight.

That's his job.

He needs to make you feel like there's no choice, so you give up your rational thought.

Just like saying that Iraq was going to try an "iminant" perhaps "nuclear" attack with "WMD's" if we don't "strike" "now".

People should be pissed and revolting.

The bailout is worthless at stopping a recession/depression and only gives the rich money. Liquidity comes from "good banks" and giving money to the people.

[Nutrino2179]

It's predictable that all we'll get from Bush is the usual fear-mongering and useless babbling. But I'm not worried now that I know McCain will be there tomorrow with his economic expertise to solve everything. BTW, isn't it time for the Terror Alert Status to go Orange again?

[swaggajee]

I would like to ask Lou Dobbs one simple question. How would have Houston survived Hurricane Ike without all those "evil" Mexican Day Workers?

The Day Workers are the only reliable service that Houston has gotten since Ike. It's been 12 days and millions are still without power. It took days and days for ice, water, and food was able to make it in Houston.