March 27, 2009

How Could "Wall Street" Rahm Be Such a Liberal Fascist? (Actually, How Could He Not?)

Hatched by Dafydd

Beldar has a thought-provoking post up about Rahm Emanuel's "lost years," the two and a half or three years he worked as an "investment banker" on Wall Street, amassing from a low of $16 million to a high of "nearly twenty million dollars," despite having no relevant experience and no applicable degree. That's translates to a range of from $5.3 million per year up to a possible $8 million per year... not bad, for a guy who is less qualified to be an investment banker than my wife -- who at least worked in a bank once.

Here is the thought Beldar's t-p'ing post provoked in me: It's generally acknowledged in free-market circles that the bigger a business, the more government-like it becomes... and the less it supports actual market economics.

Megacorporations much prefer the stability and predictability of government contracting (domestic or foreign) to getting down in the trenches and selling to the peons; that's why Benito Mussolini got so much cooperation from the Italian corporations for his fascist economics (i.e., corporate socialism); the corporations were guaranteed monopolies and massive profits, and all they had to do was obey any orders from the government -- non c'è problema! Il Duce never told them to do anything against their natures.

(Think of the opening salvo against Capitalism in Rand's novel Atlas Shrugged... the "Anti Dog Eat Dog" rule -- which is enunciated not by the government but by the supposedly private railroads themselves: They connive to divide up the country so that no railroad ever has to compete with any other railroad. Rand may have been a mathematical and logical dummy, but she did know her recent history.)

Thus, for all their protestations today, I doubt that most of the American corporations large enough to be receiving government rescue/bailout packages are very frightened of the plan recently announced by Secretary of the Treasury and tax evader Timothy Geithner, which would essentially put all companies that are publicly traded or have any other nexus to the feds under the more or less direct control of the federal government... a stage of what I think Jonah Goldberg would call "liberal fascism."

Rahm Emanuel was clearly a tool of Big Banking during those three lost years... so it's not much of a shock that he rattles on against Capitalism today. He still serves the same masters.

And so does President Barack H. Obama.

Hatched by Dafydd on this day, March 27, 2009, at the time of 3:34 AM

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