Thursday, September 25, 2008


Tell McCain - Oppose Derivatives
Bailout Or Drop Out
Of White House Bid

By Webster G. Tarpley
WASHNGTON, DC -- Supporters of John McCain should tell their man right away and in no uncertain terms that he needs to take the lead in opposing the insane and futile derivatives bailout demanded by the Wall Street financial parasites through their spokesmen Hanky-Panky Paulson and Helicopter Ben Bernanke. Obama, a wholly owned subsidiary of the Rockefellers, Soros, and Goldman Sachs, is a sure vote in favor of whatever monstrosity Paulson is able to extort. If McCain were to join Barky in voting to flay the American people alive for the sake of Wall Street's derivatives casino, he might as well give up the race for the White House and go home. If McCain were to accept Obama's weasel demand for a joint statement in support of the bailout, the Arizona senator might as well drop out. Two thirds of the American people are not supporting the $700 billion bailout. A growing anti-elitist and anti-oligarchical rage is abroad in the land. If Obama and McCain are in a united front to support Wall Street blackmail, voters will conclude that Obama is a plausible candidate, and he will emerge victorious.
McCain desperately needs to get some daylight between himself and the widely hated and discredited Bush. What better way to do this than by breaking with the White House in spectacular fashion on the greatest issue of the age, the economic future of the country? If McCain emerges as a water carrier for Bush's bailout, all the talk about mavericks, reform, and country first will be swept away by derision. "Wall Street first" will be McCain's new slogan, and he will be exposed as just another Wall Street Republican. The bailout, together with the recent Fannie Mae and Freddie Mac guarantees, means that there will be no expanded health care, no infrastructure rebuilding, no social safety net, no guarantee for Social Security, no tax relief, nothing but declining standards of living and growing despair as far as the eye can see. The bailout is national suicide, worse than the Iraq war, including in the number of its victims. Barky's support of the bailout with a few cosmetic changes makes a mockery of all his promises, which are now a dead letter. Barky's goal is to become Wall Street's bankruptcy administrator for the United States of America in receivership. Barky's new slogan should be "Bailouts we can believe in." Barky is a puppet, and is therefore not a free agent. McCain could be a free agent if he wants it sufficiently. We will soon find out what McCain is worth.
Since two thirds of the voters do not want the bailout, it is imperative for the survival of representative government that one of the presidential candidates come forward in opposition to the lunacy being demanded by the bankers. Otherwise, the current political system will join the financial system on the moribund list. Today McCain appeared to be under the nefarious influence of the asset stripper and hedge fund operator Romney, the cybernetic garage sale queen Meg Whitman, the ogre Phil Gramm, and the failed CEO Carly Fiorina. This gang of reprobates is doubtless telling McCain to give Wall Street what it wants. That way lies political doom.
McCain should contemplate the 1948 campaign of Harry Truman, who was dumped by the ruling elite in favor of Tom Dewey, Wall Street's darling of that year. Truman refused to quit, took heart, organized a whistle stop tour, and earned the name of Give 'Em Hell Harry on his way to winning the election. That is more or less what McCain will do now if he has any guts.


As for the rest of us, the great vocal two thirds majority, we need to make our opposition to the Wall Street looting plan known. It is a monstrosity, and it will not work. It is impossible to maintain paper values in a world economic panic and depression, and it is infinitely destructive to try to do this. Derivatives are an insatiable black hole which cannot be amortized ­ they must be destroyed, wiped off the books by any means necessary. We can get along fine without Wall Street by nationalizing the Fed and going back to Hamiltonian national banking. We do not need derivatives. We do not need JP Morgan Chase. We do not need Goldman Sachs. We need production, infrastructure, and re-industrialization, not more toxic paper.
The only adequate response to what is being done this week in Washington would of course be an open-ended general strike by the labor movement, its allies, and all persons of good will. Do we have any labor leaders or other mass leaders capable of calling for such a mass strike? If they exist, they should come forward and make themselves known right now.

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