Comments on: Lipstick on a Financial Collapse https://blogs.swarthmore.edu/burke/blog/2008/09/16/lipstick-on-a-financial-collapse/ Culture, Politics, Academia and Other Shiny Objects Wed, 24 Sep 2008 03:26:55 +0000 hourly 1 https://wordpress.org/?v=5.4.15 By: Timothy Burke https://blogs.swarthmore.edu/burke/blog/2008/09/16/lipstick-on-a-financial-collapse/comment-page-1/#comment-5741 Wed, 24 Sep 2008 03:26:55 +0000 http://weblogs.swarthmore.edu/burke/?p=645#comment-5741 Well, where’s the Republican Mayor Nutter? E.g., I actually do think there are more Democrats (or Democrat-leaning independents) for whom corruption and competence are actually wedge issues that will push them one way or the other in an election than there are, at present, Republicans. Moreover, much of the mainstream media (and independent media, even overtly left-leaning) is very much willing to poke and prod at corruption on either side. How do you think we know about Rangel? No body really dropped there–somebody investigated. But it doesn’t make for much of an incentive to push in that way if you know for a rock-solid fact that there is zero chance of the other political faction taking up a similar house-cleaning of their own.

But you’re right that this can’t come down to just whether members of a particular political faction have the right values, etcetera. It also has to come down to process and procedure, to a system that guards against the inevitable drift to corruption. It’s when a political leadership sets out to remove safeguards, stop oversight, abolish judicial review, and so on, that we should get very worried, far more so than when we see a media report about some individual case of venality. Well, guess what the last eight years have been all about? The systematic dismantling not just of specific systems of oversight and regulation, but also of the entire *concept* of oversight. And here we are again with that proposition with the bailout: to fix a system where people ran wild without any systematic checks or safeguards, we are being told that it is necessary to give someone else the option to run wild without any systematic checks or safeguards.

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By: nord https://blogs.swarthmore.edu/burke/blog/2008/09/16/lipstick-on-a-financial-collapse/comment-page-1/#comment-5740 Wed, 24 Sep 2008 01:41:29 +0000 http://weblogs.swarthmore.edu/burke/?p=645#comment-5740 Tim,

I admire and actually support your goals around competence and corruption. Despite being a libertarian, there is something very nice about doing business in scandanavia and not being shaken down by the political powers that be (though outside of their home countries, swedes can bribe with the best of them … hmm how are those swedish jet fighters flying Mr. Zuma???). that being said, getting corruption out of the system IMHO is about increasing the punishments, both through judical and ex-judicial efforts(shaming would be ideal) without regards for political point-scoring.

Unfortunately corruption is here and has to be fought, whether it embarasses Republicans or Democrats. While anti-corruption makes a good soundbite this election cycle with the netroots, I don’t believe any of them are committed to this as a philosophy or ideal – rather it is the path to power where their guy calls the shots. Charlie Rangel for Secretary of Treasury? Spitzer for Director of HHS? Or more seriously, Mayor Street’s brother for any position or the city of chester putting in resources for an empty soccer stadium, or democratic politicians setting up shell wholesaling companies for the casinos starting in Philadelphia?

The interior department was bad – bad enough that the press will shame them into changes, charges, and punishments. Corruption in Philadelphia school district? Shrugged shoulders and no competitive political process to change that there – it takes a body to drop to get local corruption/competence issues in the news.

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By: hestal https://blogs.swarthmore.edu/burke/blog/2008/09/16/lipstick-on-a-financial-collapse/comment-page-1/#comment-5719 Wed, 17 Sep 2008 23:38:11 +0000 http://weblogs.swarthmore.edu/burke/?p=645#comment-5719 You’ve got me Dave. I have no idea what you are talking about.

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By: Timothy Burke https://blogs.swarthmore.edu/burke/blog/2008/09/16/lipstick-on-a-financial-collapse/comment-page-1/#comment-5718 Wed, 17 Sep 2008 22:40:41 +0000 http://weblogs.swarthmore.edu/burke/?p=645#comment-5718 I think that’s a good way to put it, Peter: superb competence at an essentially destructive, short-term objective.

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By: Western Dave https://blogs.swarthmore.edu/burke/blog/2008/09/16/lipstick-on-a-financial-collapse/comment-page-1/#comment-5717 Wed, 17 Sep 2008 17:20:23 +0000 http://weblogs.swarthmore.edu/burke/?p=645#comment-5717 Yeah, Hestal the Civil Service act didn’t do a damn thing. Oh wait.

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By: peter55 https://blogs.swarthmore.edu/burke/blog/2008/09/16/lipstick-on-a-financial-collapse/comment-page-1/#comment-5715 Wed, 17 Sep 2008 05:16:09 +0000 http://weblogs.swarthmore.edu/burke/?p=645#comment-5715 Having lived in Zimbabwe during the first half of the 1980s, I agree with your analysis that the present state of the country is due to the discretionary and cumulative decisions of individuals, and not something at all inevitable. The poor decisions set in early; for instance, the Cabinet decision (made in, I think, 1981 or 1982) to allow private abatoirs to operate in illegal competition with the Government-owned Cold Storage Comission, despite the CSC’s legal monopoly over meat processing, and despite the failure of the private abatoirs to meet health regulations, was not a manifestation of a belief in capitalism or in favour of deregulation, but a response to the fact that many Cabinet members, even then, had shareholdings in these private ventures.

Where I disagree with you is in your implicit description of these policies as leading to “failure”. The over-riding policy aim of Robert Mugabe has always been the gaining and the retention of political power, even at the expense of the complete emiseration of the populace. Mugabe has, after all, an MSc in Economics from the LSE (a degree gained by correspondence after Independence — he flew to London to sit the exams during the 1985 election campaign), and he is no slouch intellectually. He knows full well the relationship between the money supply and inflation in a capitalist economy, and has used this knowledge to destroy the economy in order to retain his hold on power.

Unlike in many African countries, Zimbabwe’s present position is not the result of incompetent policy-making and/or -execution, but of superb competence. Making people dependant on food-aid, and reducing the formal sector of the economy through inflation and the compulsory acquisition and re-allocation of assets, turns a capitalist economy with its anonymous transactions into an economy based on patronage — whether for food aid in the rural areas or for farm-ownership and for export & import permits among the elite. From the perspective of Mugabe and his circle, there has been no failure here.

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By: hestal https://blogs.swarthmore.edu/burke/blog/2008/09/16/lipstick-on-a-financial-collapse/comment-page-1/#comment-5714 Wed, 17 Sep 2008 03:05:18 +0000 http://weblogs.swarthmore.edu/burke/?p=645#comment-5714 And that is a Lesson of History.

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By: hestal https://blogs.swarthmore.edu/burke/blog/2008/09/16/lipstick-on-a-financial-collapse/comment-page-1/#comment-5713 Wed, 17 Sep 2008 03:02:44 +0000 http://weblogs.swarthmore.edu/burke/?p=645#comment-5713 Because our political system was corrupted by political parties beginning in the election of 1800, and because ever since the two parties, no matter their names, have alternated in power, and because they undertook to reverse the progress made by the preceding party in order to destroy their predecessors electability, and because both parties actually began to dance a symbiotic dance and wrote laws that enabled those in office, no matter if they were in the majority, to still make piles and piles of money, and because politicians accrete power and excrete corruption and public servants don’t, and because politicians therefore manipulated our election process so that incumbents are usually reelected, we find that, in the words of Andrew J. Bacevich, there is actually only one political party in America and it is the Incumbents Party, we find ourselves pitifully reduced to yelling at each other while we sink into the muck.

So I say with a peaceful feeling of absolute certainty that both parties are to blame and those partisans who have been office the longest are the most to blame. So John McCain has been in office a long time and therefore bears much responsibility for what has happened. Any claims to the contrary only prove that he has been worthless, or in the words of my sainted grandmother, “not worth the powder it takes to blow him up.”

Barack Obama has been in office for only a short time and therefore bears less responsibility, but he will not make any lasting, substantive changes, even if he tries, which, at this time, is still an open question.

The system is under duress and controlled by almost any interest except the interest of the People. But all of this is not news, and should be obvious to the casual observer, let alone the learned one.

In Federalist 1, Alexander Hamilton called our attention to this when he said that debate over the proposed Constitution would be based on interests and prejudices, or as he said, “??that intolerant spirit which has, at all times, characterized political parties.?? He went on to say more about parties, ??To judge from the conduct of the opposite parties, we shall be led to conclude that they will mutually hope to evince the justness of their opinions, and to increase the number of their converts by the loudness of their declamations and the bitterness of their invectives.?? Sounds familiar, doesn??t it?

So every four years we poor fools in the electorate cannot help ourselves, and we succumb to the invective and bitterness because so much is at stake and because we have such dreams for ourselves, our families and for America. We rant and rave and curse and hurt until we finally purge ourselves as if we had consumed two bottles of magnesium citrate. And we return to our occupations and hope for the best.

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By: Josh https://blogs.swarthmore.edu/burke/blog/2008/09/16/lipstick-on-a-financial-collapse/comment-page-1/#comment-5712 Tue, 16 Sep 2008 23:31:43 +0000 http://weblogs.swarthmore.edu/burke/?p=645#comment-5712 As for the oversight, surely the Democrats could also have done this in the last two years, when the scandal was occurring? Isn???? Obama representing a party that did nothing? Doesn???? he have to answer for their lack of initiative?

That’s a wonderful way of not answering the question.

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By: janegalt https://blogs.swarthmore.edu/burke/blog/2008/09/16/lipstick-on-a-financial-collapse/comment-page-1/#comment-5711 Tue, 16 Sep 2008 23:23:11 +0000 http://weblogs.swarthmore.edu/burke/?p=645#comment-5711 His involvement in the S&L scandal is dubious; even Democrats from the period admit that he was basically handed over the leadership to save face by making the corruption look bipartisan. But he also traces his anti-corruption record to that period. And as the daughter of a lobbyist, I need more than the mere fact that they are lobbyists to prove their evility. Lobbyists are usually very sharp experts on their topics.

As for the oversight, surely the Democrats could also have done this in the last two years, when the scandal was occurring? Isn’t Obama representing a party that did nothing? Doesn’t he have to answer for their lack of initiative?

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