Tuesday, 23 September 2008

Dealing with that Debt....

Hank Poulson wants $700bn - $1trillion to buy out the bad debt of the American banks. Congress is cutting up a bit rough, wanting to decide what counts as a bad debt. A former editor of the Economist warns in today's Guardian that once this happens, no future President can afford decent healthcare programmes or research into alternative energy.

This is class struggle as a form of that old party game 'pass the parcel' - when the music stops, someone is going to have huge losses in their hands. How do we stop the bankers taking the music away and calling a halt to the whole damn party if it is them?

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