“We cannot rebuild this economy on the same pile of sand,” declares the president. But it seems that’s what going on. Obama’s treasury secretary says, “We have a financial system that is run by private shareholders, managed by private institutions, and we’d like to continue to do our best to preserve that.” That’s the stated policy. Now no doubt there will be some regulatory changes but loopholes will be found to avoid them. Restoration is the order of the day. The system remains in place. Ultimately, with few exceptions, the high rollers and fat cats are covered. They get their big payday and their “too big to fail” corporations and banks get bailed out. The economic crisis is a moment of great opportunity to address fundamental inequities and inequalities. Where are the imaginative ideas and the movements to push them forward?
Arun Gupta, journalist and activist, was a founding editor of The Indypendent and the Occupied Wall Street Journal. His articles appear in Alternet, Truthout, The Guardian, and Z. He also appears on Democracy Now! and Al Jazeera.