Wednesday, September 24, 2008

Good analysis of the bailout

How many times in the last five days have you heard the phrase "the devil's in the details?" The progressive press has proven itself adept at quickly highlighting certain devilish details that the mainstream misses. If you're looking for good analysis of the Wall Street bailout, check out these articles, all of which have been posted at the Alliance headlines blog:

On Sunday, John Nichols talked to Vermont independent-democratic-socialist Bernie Sanders about the Paulson plan. Sanders dismissed it as "trickle-up"; read his views here.

Adrianne Appel of Inter Press Service covered some activist groups' reaction to the bailout here on Tuesday, September 23.

Also on Tuesday, Naomi Klein warned that the Bush administration could pull its own "shock doctrine" restructuring of the economy, and pointed out that the current administration plan follows a long deregulatory tradition in its insistence that Congress have little or no oversight of the bailout.

William Grieder, writing in the Nation, says the plan is an "historic swindle."

The Alternet staff have put together a "Ten Things You Ought to Know about Bush's Trillion-Dollar Fleecing Plan" list--a FAQ on the bailout from a progressive perspective. has an article by Eamon Javers and Victoria McGraine on the role hedge funds are playing in both up-ending the market and possibly becoming the preferred vehicle for investments if the market is restructured with more regulation and oversight.

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