Following from my previous blogs, first, Morgan Stanley always comes out on top.
So, Morgan Stanley has consolidated and expanded its private ownership in the banking industry, literally overnight, by government fiat.
Morgan Stanley acquired a major banking institution, Washington Mutual, WaMu, whose liabilities and assets were peremptorily seized by the government in anticipation of bad debts and a deal was negotiated with Morgan Stanley to purchase WaMu assets and liquidate their debt.
Morgan Stanley, of course, is constantly expanding its presence in the Middle East/North Africa speculative, privatizing bubble, as well:
In addition, our second, major financial, global, private octopus, Citigroup, appears, at the moment, to be in negotiations to consolidate with the nation's fourth largest bank, Wachovia.
So, as usual, both Citigroup and Morgan Stanley come out on top of the heap, both here and abroad, furthering private capital accumulation and concentration.
In addition, an expected tentative financial bailout plan was reached, one McCain helped to negotiate and the Vichy Dems want to use or abuse for political cover.
The sticking point and necessity for McCain's involvement emanates from the fact that rank and file House Republicans continue to balk at cooperating either with the Vichy Dems or their own Republican leadership to approve this plan.
The Vichy Dems do not want to sign off on legislation by themselves, which they could, but, they want/need the coverage of a bipartisan agreement. And, the rank and file House Republicans are obstinate in their continued, principled resistance, opposition, and objections to this plan.
The political fallout and backlash from this legislation will be enormous. This will force out the Vichy Dems onto a political limb, which is why they need McCain's involvement.
So, other than partisan posturing, what will the rest of us get from the legislation finally put forward?
Here's a SHORT, by no means comprehensive, list of what we will NOT get from ANY of the twin Fascist Parties.
NO universal, single payer health care, whatsoever.
NO expansion, nationalization and public ownership of ANY of our worthwhile productive assets, heavy industries and natural resources.
NO guaranteed, expanded, universal, free, comprehensive lower and higher education program.
NO small tax, (.0001, that's 4 digits after the decimal point, for example), on every single financial transaction of private stocks and shares sold and bought on any and all stock markets throughout the US. (This, alone, would generate ENORMOUS monies based on volume traded every day).
NO guarantee of a full employment economy, based on all of the above and a reduced work week plus early, voluntary retirement.
NO guaranteed annual income.
NO guarantee of our limited, Social (in)Security quasi-retirement insurance system, it's expansion and monetarization beyond it's present pauper status, and, correspondingly,
NO diminution or end to our Fascist union/labor policies to recycle and invest their workers pension monies into private, multinational, profit making, corporations.
NO nationalization of ALL industries related to defense and certainly, in conjunction,
NO decrease in our privatized, highly, lucrative, profitable Defense Industry, completely, 100% financed by working class taxpayer monies.
NO comparable decrease, withdrawal of global, military bases and expenditures throughout the globe, whose sole purpose is to expand and defend private capital, such as Morgan Stanley, Citigroup, et.al.
NO elimination of all personal income tax for individuals, couples, families, with combined incomes less than $50,000 and a GRADUATED, FLAT tax rate on combined income over $50,000. NO deductions, NO itemization.
NO nationalization of our money supply and elimination of our PRIVATIZED, Federal Reserve system.
NO increase in the minimum wage to a decent living standard.
NO permanent elimination and prohibition of the many and numerously flavored, speculative, manipulative, abstract, exotic financial tools, such as short selling, derivatives, hedge funds, etc., which is one of the main reasons for our present liquidity crisis. As a matter of fact, they will be expanded throughout the globe and particularly the Middle East.
NO offshore funds, corporations, ownership and tax havens.
I repeat, the above is just for starters.
Whenever and wherever you see "NO," above, substitute the reverse policy and you will have a good idea of what we presently have and will continue to get.
Instead, however, the Vichy Dems with a very small handful of collaborative Republicans will nationalize a lot of bad, useless collateral and lousy debt from some ticky-tacky, overpriced houses that nobody wants or needs. It's not simply the underlying cost of the overpriced, overvalued houses and mortgages which created the current liquidity crisis and speculative bubble. It's the secondary, tertiary, speculative bonanza created around the underlying mortgages, pieces of bundled paper debt, and utilized as collateral for these exotic and manipulative financial tools. The underlying debt obligations were flipped, manipulated, gambled and leveraged exponentially. That's why nationalization of this debt is absurd and its underlying collateral is relative junk.
And, of course, as I have had on previous blogs, in our revolving, manipulated financial door, depressed real estate assets, here, will be privately purchased at bargain basement prices from abroad from the same financial interests represented above, such as Investcorp, which I previously highlighted.
Next, on a related issue, the Iraq war front and the Middle East speculative bubble. In the ongoing saga of regime change and congruency with Iraq/Iran/the US, more significant developments.
A new UN agreement, including Russia and China, reaffirming their unanimous commitment and agreement surrounding Iran's nuke program.
And, coincident with the above development, another very significant, telltale sign surrounding "regime change and congruency" in both Iraq/Iran/US, besides the indefinite postponement of celebrations for the opening of Kurdistan's "Gas City" and Iraq's upcoming provincial elections in January, 2009.
Kurdistan's Heritage Oil, partnered with the mysterious Eagle Group of Iraq and whom I've speculated might be Talabani, and/or Barzani, themselves, apparently, either will be sold outright, or, "some" assets sold. It is speculated those assets will be in Kurdistan. From their own corporate website, a terse, September 18 Press Release on the subject. Note, JP Morgan Cazenove, advisor:
Seems to me like rats leaving a sinking ship.
I've had much in previous blogs about the nefarious role of Heritage, etc. But, a good reminder, to which I've linked before, and, especially in recent connection between the Obummer mafia campaign and mafioso extraordinaire, Tony Buckingham, current owner of Heritage Oil, the following:Also, Russia is reaffirming Iraq's territorial integrity:
Apparently, some private Russian companies are being offered the potential to invest in Iraq.
And, of course, further UN and NATO/international forces being planned for intervention and "peace keeping" in Iraq.
And, Iran's privatization is moving forward inexorably, which, of necessity, will terminate Iran's present, Fascist clerical regime and their militias monopoly on power, the major force propping up the clerical regime at the moment.
Iran's Neanderthal clerics have outlived their usefulness. They have become an impediment to regional progress. Time for them to go.
Enter, instead, Morgan Stanley, friends and associates at the First Persia Fund, which, by the way, is interconnected with Egypt's EFG-Hermes.
And, finally, in view of all the above, I thought, this time, I would end with a very simple message, an open-ended invitation from Ralph Nader to join with him in a club that requires nothing of you, absolutely nothing whatsoever: