Re: [Marxism] Campaign for a NO on bailout?

["S. Artesian" <sartesian@xxxxxxxxxxxxx>]

I don't think you missed it, and I think such reluctance is more likely to 
come from the free-marketeering Republican side than the Dems.  Remember 
when the Clinton Administration finally responded to the cries for help from 
Thailand, So Korea, Taiwan, etc., it was the the Private Idaho Republicans 
who spoke, at least on TV, against the emergency loans, criticized the IMF, 
etc.

But the key here, that forms the unity of  left Democrats and right 
Republicans is the "alternative" to the bailout-- paralysis of the 
short-term commercial paper markets, of the money markets, of the repo 
markets-- complete loss of day-to-day funding abilities.  The "long-term" 
markets have been paralyzed for a year-- IPO market is what 1/8 globally of 
what it was in 2005-06;  leveraged loan business is no longer loaning or in 
business, investment banks and commercial banks, and funding syndicates want 
to get out their obligations to extend credit lines to business.

It's all about maintaining short-term markets,  and if that can't be 
maintained, then in the immortal words of the US Secretary of Treasury, 
channelling Stevie Wonder, "Heaven help us all."
----- Original Message ----- 
From: <bauerly@xxxxxxxx>
To: <sartesian@xxxxxxxxxxxxx>
Sent: Sunday, September 21, 2008 9:19 AM
Subject: [Marxism] Campaign for a NO on bailout?



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