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Free Marketers Going After Occupy Wall Street --Danny Schechter

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These "pinheads," to use a Bill O'Reillyism, who defend the abstraction of a free market don't let the facts get in the way of how we got into this mess.

They see the world as business-good versus government bad, despite all the contradictions of government subsidies and bailouts of financial institutions that effectively collapsed thanks to their own fraudulent practices and the greed of those that run them, and, who have never seen an outrageous compensation package or oversized bonus they would reject.

Never mind that, Ayn Rand supporter and former Fed head Alan Greenspan's admitted that fraud was pervasive in the lead up to the financial collapse.

Never mind that it was Republican and former Goldman Sachs CEO Hank Paulson who first initiated the   $700 billion TARP bailout of the big banks in 2007, and another Republican and original Bush appointee, Ben Bernanke, who secretly printed up trillions of dollars to spread like manna from heaven on banksters worldwide.

Never mind that many of the government remedies that the right denounce came about because of the predatory lending and racially discriminatory practices that "red-lined" minority communities in the late eighties and early 90's denying homes to people of color.

The Daily Bell of its day and its cohorts, were not ringing their bells to expose blatant racism that distorted their beloved markets then, or massive financial crimes that do so today. They were saying nothing about this, then or now.

These ideologues are too smart to totally deny that Wall Street MAY be part of the problem.

"Of course," The Daily Bell whines, "Wall Street is PART of the problem, but it's a much larger problem, and Wall Street is ultimately, for the most part, a transactional mechanism. The issues of failing Western regulatory democracies and their eroding money stuff cannot simply be laid at the feet of the securities business, no matter how powerful it seems. The real controllers are to be seen elsewhere.

In the past these controllers have been able to effectively disguise their presence and influence. They do it by misdirection and by using money power to blame the private sector for the depredations of the West's central banking economy. The mainstream media is extremely important to this effort ..."

So now we have the corporate media in which all the largest companies in America advertise and back the economic elite being blamed for discrediting the business order.

What world are these people living in? Even in Austria, the apparent and mythic homeland of their beloved economics school, no one buys this claptrap.

"Now Occupy Wall Street evidently and obviously a dialectical enterprise funded by these same elites (at least in part) is giving them a moment of hope... " they imagine.

"Evidently and obviously" are words that evidently and obviously need no evidence to back them up with anything approaching facts in this faith-based world.

They justify this faux attack, finally, I f you can work your way to the end of the dense diatribe, with these words,   "It is not bankers who have immense power, but central bankers and their controllers, the elite Anglosphere families that run central banking and distribute its tens of trillions of "money created from nothing."

This masked reference to unnamed "Anglosphere families" smacks of the phrasing of that anti-Semitic tract, the Protocols of Zion without mentioning any chosen people or whom they are alluding to, of course.

It also doesn't mention that our Central bank, the Federal Reserve, is privately owned, not a government institution, run by the banks and for the banks. Most people don't know this, of course despite Ron Paul's efforts joined in by some Democrats to explain it.

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News Dissector Danny Schechter is blogger in chief at Mediachannel.Org He is the author of PLUNDER: Investigating Our Economic Calamity (Cosimo Books) available at Amazon.com. See Newsdisssector.org/store.htm.

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I have a friend who prouds himself on being ' tole... by Mark Sashine on Monday, Oct 3, 2011 at 1:06:36 PM
... by Michael Gooch on Monday, Oct 3, 2011 at 1:15:43 PM
Hang on Danny... there's a lot of truth in that re... by Paul Carline on Monday, Oct 3, 2011 at 1:25:27 PM
Does One Need Papers to Join "Wall Street Occupanc... by John Randolph on Monday, Oct 3, 2011 at 1:34:36 PM
It has become that sort of a system. With cameras ... by Paul Repstock on Monday, Oct 3, 2011 at 10:56:07 PM
If you really want to know the connection to the a... by George Buzzetti on Monday, Oct 3, 2011 at 2:46:45 PM
that plan was not successful. This new implementat... by Michael Shaw on Monday, Oct 3, 2011 at 3:11:16 PM
As I see it, the only thing that happened in 1940-... by Paul Repstock on Monday, Oct 3, 2011 at 11:03:22 PM
George,Danny misenterpreted.  There is a theo... by Bobby Emory on Monday, Oct 3, 2011 at 11:42:36 PM
The US has nothing like 'free markets'. They are c... by Carol Davidek-Waller on Monday, Oct 3, 2011 at 7:35:19 PM
Danny,You have missed an opportunity.   Occup... by Bobby Emory on Monday, Oct 3, 2011 at 11:06:21 PM
The point of the DB article was that the OWS peopl... by Skip Cook on Tuesday, Oct 4, 2011 at 11:09:10 AM
The world of tomoàrrow belongs to all these young... by Marika on Tuesday, Oct 4, 2011 at 5:03:12 AM
Good work, Danny! The key line: "It also doesn't ... by R A Bows on Tuesday, Oct 4, 2011 at 12:16:07 PM
Free market theory is absolute hokum, repudiated b... by Gary Brumback on Wednesday, Oct 5, 2011 at 8:11:50 AM