The programme I watched showed as a pod of orcas corralled a large school of fish in a small space then, while the fish were in a frenzy, stunned them with their tails. We have all seen accounts of lions or wolves getting a herd of prey worked up and causing a stampede which reveals weak or wounded members of the herd.

I believe that that the economic crisis that still envelops all of us is akin to such a stampede.

While everyone has suffered financial loss in this time of difficulty, no one has suffered more than the middle class. More members of what was the middle class, have lost most, if not all, of their holdings.

There is no question that those of great wealth may have lost more in absolute terms but, by and large they are still left with sizable wealth.

Those in the middle class are in a state of panic, crushed by what has happened to them and wondering what will occur next.

In the meantime, there is growing pressure on legislators, from those who possess the resources with which to exercise such pressure, to cut taxes.

For whom can this be of benefit? Certainly no one enjoys paying taxes and who wishes to pay more than necessary?

Consider, however, that if you are one who has lost his or her job, you are unlikely to reap the benefit of lowered income taxes. You have less income. Many in such circumstances are desperately trying to determine where their next meal, mortgage payment or loan payment is going to be found.

Those of influence, on the other hand, are thinking of such worrisome matters.

The herd is on the run, without leadership, without guidance. This presents a wonderful opportunity for those who are in position. Lower taxes will put much more money in the hands of the ealthy than it will for the middle class.

We are always told that this extra money will be used for investment in plant and equipment. People will be hired thereby making once again, consumers thus bringing the economy back to life.

In past recessions and depressions, this was the outcome.

However, this is not like prior economic downturns. A great many otherwise very good companies have been crippled by the financial debacle. What I fear will happen this time is that lower taxes will give to people within the group of acquisitors the ability to capture these crippled firms. Rather than use the additional funds resulting from lower taxes to build new businesses which need new employees, there will be a rush to scoop up existing businesses. Further, because so much capital has been eliminated, there will be fewer competitors to buy these businesses.

Once acquired, these businesses will likely be staged for breakup and full or partial liquidation. If they are retained, their staff of employees will be trimmed and streamlined. Either way, jobs will more likely be eliminated than increased.

Over the terms of the Bush presidency, the wealth gap between the rich and the rest of society, grew tremendously – surprising in a time when the “average” American supposedly did marvelously. The truth, of course, is that executives in large corporations made out like bandits and the average working stiff lost ground after considering inflation.

I am not suggesting that there is a conspiracy in this endevour. It is, in my view, simply a matter of capital doing what capital does naturally if left unchecked.

There is little need of government intervention in business. there is, however, a very great need for active government regulation of the rules under which business is to operate. There must be a concerted effort to eliminate the concept of “too big to fail”. Conglomerates and vertically integrated companies must be severely examined to determine if they should be broken up and the bias should be in favour of such action.

the anti-trust legislation must be given life and invoked much more frequently. I suggest that the future of the middle class, as we know it is at stake.

Re McCain-Feingold: the argument against it is that
it suppresses free speech. Public financing enhances
speech, no?

Re D.C. and living expenses. I live in Silver
Spring, just outside the Beltway, and I live
quite nicely on 1/3 what a representative makes.
I would expect that a successful Green candidate
or even a Huckabeeite would do just as well!

Best wishes,

Alan McConnell, in Silver Spring

In any case, there remain multiple interpretations of Geithner’s performance over the last 1 year: He is entirely bought and sold, and just playing the part. He is a little boy in a grown man’s world. Or – the most hopeful – he was an idealist who got conned by his “friends”, but is finally developing a real backbone.

From time to time, small signals give hope that the latter interpretation may be right. Yet, when given the opportunity to seize the initiative, Geithner continues to shrink from it. Then again, he could simply be following orders to wait until after the health care debate is concluded.

So who knows how much of the real Geithner we’ve seen? Among other things, Larry Summers seems to thoroughly dominate the inner circle, and keep Geithner properly cowed.

If I could only choose one of them to eject from the administration, I still think it would be Summers.

Which, really, is what has come to pass since we went to direct election of Senators. Huh. Guess maybe we shouldn’t have tinkered so much with a Constitutional framework built with five centuries worth of hindsight.

We are now fully captured by the plutocracy at every turn. Not just the finacial behemoths, but by big oil, big coal, big health care, big retail, big fast food, big everything. They have the bucks for advertising, and so they buy off the major media from showing cogent descent. They can’t afford to anger the folks who pay the big bucks for air time. Please note that in the internet age, the best in depth reporting is no longer available in print, since most newsprint doesn’t have the funding to support the best reporting, except for the few who are still around.

We all have been captured. The elections are incumbent and media controlled because of campaign contributions and media capture. In fact, finding a poll nowadays that one can trust is almost impossible.

I would say the there will be some incumbents who should be voted back in, but certainly less than 10%. I have completely given up on the R & D society. They really are all just shill for those who pay to keep them where they are. Only publically financed campaigns will make a difference, but that still won’t stop the fat cats from advertising blitzes, after all they won’t be shut down because of the first amendment.

I believe that we are headed for major national and international disasters within the next two years if nothing changes. There could be a serious revolution in this country, as more and more have less and lass, and fewer and fewer have more and more. It is not just a Banana Republic, but looks very much like France right before it’s revolution. We need to start eating cake before the superbanks tell us to.