"The disaster is far from over," (Naomi)Klein said

[katty]

more: http://rawstory.com/news/2008/Naomi_Klein_Financial_crisis_part_of_0921.html

Naomi Klein: Financial crisis part of Bush 'shock doctrine'
David Edwards and Andrew McLemore
Published: Sunday September 21, 2008


The bailout of Wall Street’s largest players by the federal government is another example of the Bush administration pursuing a corporate agenda at the expense of average Americans, a prominent author argued on Friday.

In a Friday night interview on HBO's Real Time with Bill Maher, Naomi Klein said President Bush’s $700 billion proposal to rescue the financial sector stems from a profiteering streak that has dominated the last eight years.

"The disaster is far from over," Klein said. "The disaster was on Wall Street and they have moved the disaster to Main Street."

Referring to the bailout, Klein said the "bomb has yet to detonate" and that the real crisis will strike when tax payers are overwhelmed when faced with the debt from the bailouts.

[bemildred]

1. Yes, this is just beginning.

A lot more vapor-shares(*) have to be written off.

* -- Pun on vaporware from the dotcom bubble. Not really even shares, of course, but same idea.

[katty]

2. yeah, the U.S. taxpayer broke from this-so need to privatize

the perfect storm for the perfect setup - it ain't rocket science,here--privatize soc sec, medicare, etal...they are all salivating - like vultures circling the carcass of the american taxpayer - - the final demise of the New Deal.