U.S. Moving Toward Czarism, Away From Democracy

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By David Sirota (about the author) Page 2 of 2 page(s)

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This, as much as personal hubris, explains why Paulson and Bernanke sought unprecedented latitude in spending trillions - they want to be able to move as fast as their autocratic counterparts in other countries, and believe congressional oversight will slow them down.

It explains why UC Berkeley economist Laura Tyson says we need an auto czar who will "take a number of approaches to this problem that are already known, that have been discussed endlessly, and force it through" - because to economists, a czar quickly "forcing it through" is more important than any consideration for democratic deliberation.

And it explains why when Obama aides this week demanded complete control over the second half of the Wall Street bailout funds, House Financial Services Committee chairman Rep. Barney Frank, D- Mass., shirked his oversight duties and said he's "willing to accept their word" that they will spend the money responsibly. In a czarism, that's what legislators do: "accept the word" of the czar.

In sum, it explains why the age-old struggle between capitalism and democracy is once again defining our politics - and why capitalism is now winning.

That triumph may be terrific for the czars and great for their industry suitors, but as the founders would likely agree, it is a Pyrrhic victory for America.

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