Top Ten Worst Things about the Bush Decade;
Or, the Rise of the New Oligarchs
By spring of 2000, Texas governor George W. Bush was wrapping up the Republican nomination for president, and he went on to dominate the rest of the decade. If Dickens proclaimed of the 1790s revolutionary era in France that it was the best of times and the worst of times, the reactionary Bush era was just the worst of times. I declare it the decade of the American oligarchs. Just as the end of the Cold War and the fall of the Soviet Union allowed the emergence of a class of lawless 'Oligarchs' in Russia, so Neoliberal tax policies and deregulation produced American equivalents. (For more on the analogy, see Michael Hudson.) We have always had robber barons in American politics, but the Neoliberal moment created a new social class. At about 1.3 million adults, it is not too large to have some cohesive interests, and its corporations, lobbyists, and other institutions allow it to intervene systematically in politics. It owns 45 percent of the privately held wealth and is heading toward 50, i.e. toward a Banana Republic.
The List
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2007=Bubble fed by "Easy SURE FAIL" Mortgages BURST creating CRISIS
2008=Green span=saying FED ill-equipped to investigate deceptive lending=False
2009=Greenspan consulting gig PIMCO+asset manager GSE mortgages+senior bondholder
Graph=http://www.mortgagecalculator.org/images/us-subprime-mortgage-market-growth.png
Bush Ownership Society: http://en.wikipedia.org/wiki/Ownership_society
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