The rider Senator Warren is so stridently opposed to is so detrimental that radical Republicans had to furtively attach it to necessary funding.
Where is the easy-rider radical Rand Paul on this issue!
The US government is not optional. It is reality, fully actualized with the strictest, constitutional construction, authored by “We The People” (on demand). Subverting its existence is a high crime and yet we see it being used to extort detrimental value by gangsters dressed in pretty suits, praising the value of family life, and going to church on Sunday.
Government is not the big ugly monster to be overcome here.
Understand, the radical right wing that has installed the financial rider to the budget bill is not looking for less government, it is demanding more government. For them, government is the solution. (Notice the non-conforming identity.)
Look! It’s Hamilton on a Harley?
The rider attached to the budget bill gives real meaning to the term “perverse incentive.”
It would weaken financial reform by allowing big banks to use derivatives detrimentally, forcing massive unemployment, liquidation of assets and consolidation like the crisis of 07-08, using public funds as a subsidy. In other words, it would use public funds against the public–the little people that naturally look to the financial elite (the “best and the brightest”)–for direction. (Notice the conforming “Hamiltonian” identity–the Objectivist identity Rand Paul, for example, subscribes to.)
If the government is going to pay you to wreck the economy with a subsidy in late order (a government bailout), what’s the probability? It is but a racketeering-extortion scheme disguised as free-market economics. It’s a big fraud!
It is important to realize the real identity here. Right-wing, Randian radicals want to go back to the old robber-baron days when government existed to protect whatever the robbers do, with the rule of law.
Understand that Dodd-Frank does not prohibit consolidation of financial markets and the use of derivatives. These old-fashion techniques to confiscate property have been resurrected and validated as being the rule of law that allows the efficiency of free markets to work in a TBTF proportion, which is a contradiction (a knowing and willing fraud).
Dodd-Frank acted to remove the government subsidy, which the right wing says it is for, not against, because subsidies defeat the natural efficiency of free markets. Who is who here?
Instead of two opposing parties, it looks like we have one party with two right-wing factions playing a counter-identity game. Apparently, if we want a true, non-conforming identity, it isn’t going to be one of these factions, but a second party, with the false identity of a third party. (Remember Perot’s third-party action…now that was really radical, wasn’t it!)
There is nothing radical about Objectivism. Its non-conforming identity is a fraud! When derivatives are used to manage risk, the result is good-ole-fashion deflation; free-market capitalism just like in the good old days before the inflationary adjustment of monetary policy and welfare. (It’s Hamilton on a Harley!)