Is the 'Good Life' as America Knows it Over?
By Steve Fraser,
Tomdispatch.com. Posted September 19, 2008.
The relationship between Washington and Wall Street has changed
fundamentally and as a result, the road ahead is dark and unknown.
Introduction by Tom Engelhardt: Among the many media spectacles of the
moment, the most unnerving is undoubtedly the crisis on Wall Street
that has already essentially toppled Bear Stearns, Lehman Brothers,
Fannie Mae and Freddie Mac, Merrill Lynch, and -- probably not last
and certainly not least -- the gigantic insurance company AIG, which
has just been given $85 billion in taxpayer moneys to liquidate
itself. Before we're done, that hoary old oxymoron of the Left, "late
capitalism," may gain new life.
Elsewhere on the planet, it turns out, it was more obvious that the
U.S. was in crisis. One small sign of the changing state of the
globe's "sole superpower" is that, even before banking institutions
started...
