[Marxism] Doug Henwood on Obama coddling the bankers

[Charles Brown <cdb1003@xxxxxxxxxxx>]

<http://doughenwood.wordpress.com/2009/02/26/obama-coddling-bankers-indeed/>

Obama coddling bankers indeed


It was predicted in this space just two weeks ago: âObama to coddle 
bankers.â Now weâve got official confirmation of this from one of the 
prime coddle-ees: Citigroup. An analysis of the Treasuryâs plan produced 
by two Citi analysts, Ryan OâConnell and Jerry Dorost, begins with this 
headline....

^^^^^
CB: Didn't Doug support the coddling
bailout of bankers last October ?
He doesn't seem to think that
there is a financial oligarchy or
monopoly finance corporations, enormous
concentrations of wealth in finance
capital,
or parasitisism ( or whatever the word is)
, or finance capital
dominance of industry, or geniuses
of speculation or anymore
 colonies in the "Third World"
 or imperialism.

To me it seems like the world has 
changed since 1916, but a lot of the
fundamentals are still in tact, and
some features are the same 
trends Lenin noted, but just bigger.
More finance capitalism than ever,
so to speak.

What exactly is wrong with 
these bankers that they 
shouldn't be coddled ? I mean
if they are just doing their
job, then ...

I've got to finish my
reply to his post on LBO-talk claiming
the current situation
has none of the characteristics
of finance capital as essayed
by Lenin in _Imperialism_.
There sure seems to be a financial
oligarchy to me. Isn't the reason
they are being coddled that
they are the oligarchy, the bosses ?

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