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Li, Minqi Socialization of Risks without Socialization of Investment: The Minsky Paradox and the Structural Contradiction of Big Government Capitalism Publication Date: 9/29/2009

"...big business has cemented an unholy alliance with big government against the interests of ordinary Americans, who, of course, are the great majority of Americans. The great majority of Americans no longer matter."

Today, Adam Smith's Wealth of Nations is considered a Bible for capitalism, but when published in 1776, it was a blasphemous challenge to the big business, big government mercantilism in Europe. Smith's free market theories expanded economic opportunity, promoted competition and encouraged innovation, in large part, by attacking the "concentrated wealth and power" of Britain's commercial elite.

Liberal democracy ,and even republican self-governance, have always depended on beliefs and civic virtues which the liberal state itself is constitutionally unable to nourish or enforce -- and which big-corporate employment and consumer marketing, quite as much big-government social engineering, does a lot to undermine.

Entire Issue. Article titles: UN & Civil Society; Civil Society & Media Freedom; Religion in it's Place; Women, Civil Society, & NGOs in Post-Soviet Azerbaijan; Lazarus Rising: Civil Society & Sierra Leone's Rise from the Grave; Framing Democracy: Civil Society & Civic Movements in Eastern Europe; American Creed: Philanthropy & Rise of Civil Society (1700-1865), etc.

Big, wealthy oil companies like BP are usually expected to pay to the cleanup costs themselves. But that still leaves the cost of all the indirect damage to fisheries and wildlife habitats in the area. In that case, under current law, an offshore rig operator is liable for up to $75 million in damages. After that, the federal government picks up the tab, using an oil spill liability trust fund that's paid for by a tiny tax on oil (amounting to one-tenth of 1 percent of the price).

Sanders/Dodd Audit-The-Fed allows audit of TARP + TALF, but not FOMC, discount window operations, or agreement with foreign central banks. "Even the so called "independent" leftists, Kucinich and Sanders, have both capitulatied to the corporate, class markets and their class despotism, proving they are not real opposition leaders, but phony socialists, phony anti war activists." ~Eric Albert Schwing I read all three versions of the Sanders amendment carefully, and I believe Sanders made a good call if the decision was compromise with Dodd or have no amendment at all. The big differences with the compromise are: -Single audit covering December 1,2007 to May 2010 rather than open-ended audit until all bailout funds are recovered. -Specific parameters on the audit focusing on whether proper procedures were followed and what could be done to improve Fed governance. However it is not clear that the audit is limited to these items. -Fed website still must report lots of previously undisclosed details about the bailout measured-who got what and why. ~bmull

"The business of America is big business with a strategic long-term plan for co-opting world governments, waging permanent wars for profit, dominating everywhere militarily, ending social safety net protections, crushing civil liberties and freedom, tolerating no concern for human rights, controlling global markets and resources, turning workers everywhere into serfs, and extracting, unimpeded, as much public wealth as possible."