Gary Corseri: In this winter of our discontent, the war clouds gather and austerity miseries grind the souls of those who have no homes, or broken homes. We’re in a poisoned mine shaft and the canaries are singing. … Can we interpret their varied notes in time?
Tom Degan: I have been desperately trying to write a poem about the train wreck that Rupert Murdoch’s life has become but I’ve run into a brick wall. Could somebody give me a word that rhymes with schadenfreude?
Tom Degan: My guess is that, like in ’94, this is going to blow up in their clueless faces. I certainly hope so. Watching the utter implosion of the Republican party is an absolute joy that is difficult to put into words. I can barely contain myself.
Robert Reich: But suddenly the winds are blowing in a different direction over the Potomac. The 2010 midterms are getting closer, and the Dems are scared. Their polls are plummeting. The upsurge in mad-as-hell populism requires that Democrats become indignant on behalf of Americans, and indignation is meaningless without a target. They can’t target big government because Republicans do that one better, especially when they’re out of power. So what’s the alternative? Wall Street.
Republicans thought the “just say no” strategy that killed the Clinton plan would also work in 2009. But they forgot that this strategy now lacks the element of surprise, and that the Internet now prevents the corporate media from entirely controlling the debate.
So the fact that Goldman has reverted to its old ways in the market suggests it has every reason to believe it can revert to its old ways in politics, should its market strategies backfire once again — leaving the rest of us once again to pick up the pieces.