Wednesday, September 10, 2008

Death knell

Can you hear it? The Closing Bell of the NYSE. Is it tolling the death of Capitalism in America? Has the Republican Party and its Captains of Capital, finally destroyed their own de-humanized system? They did it once before in the 1920s, but a wealthy Democratic president instituted such business and banking controls and regulations as to save America from the impending threat of Communism from within.

With the help of a few wars and munitions deals at home and abroad, Americans, in the ensuing years, came to enjoy a renewed, and even greater level of prosperity. But this degree of comfort and ease was too much for the current Republican administration to resist. It had to have more--for itself. Its operatives knew how to manipulate the lax regulatory environment for their own enrichment. But with the crash and collapse of its most venerable financial institutions they have pushed Capitalism to the brink of its own destruction. 

Not that any of the financial and political bigwigs will suffer. They all have their stashed away wealth and golden parachutes to sustain them in the style to which they are accustomed. If all the doors of Wall Street close and the Closing Bell rings its last, you will know for whom it tolls. Woody Guthrie could have been thinking of the dust bowl of Capitalism when he sang, "So long, it's been good to know you".

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