From: Democracy Now!
As Bush Admin Pushes $700B for Wall Street, Ralph Nader Asks, “Why Is There Need for a Bailout?”
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AMY GOODMAN: Ralph Nader, who is Henry Paulson? I mean, we know he worked for Nixon, was the aide to John Ehrlichman, the ex-con, the man who went to jail; then went off to Goldman Sachs; he and Alan Greenspan still being considered the economic wise men, even though this all happened under their watch.
RALPH NADER: That’s when you know the system is decayed and corrupt, that the people who brought us this disaster—Robert Rubin, with Bill Clinton pushing through the financial deregulation monster in 1999, which we opposed, which opened the gates for this kind of wild speculation and this casino capitalism, is still an adviser. He’s an adviser to Barack Obama. He’s an adviser to members of Congress. Henry Paulson cashed out at Goldman Sachs in 2006 a half-a-billion dollars. And now he goes to Washington to bail out his buddies. …
But the first step is to slow down Congress. Once this bill is passed—and it’s a blanket bill. It’s only four pages, Amy, four pages of a $700 billion blank check, transferring congressional authority wholesale, and I think unconstitutionally, to the White House, King George IV at work again. Once it passes, then the chance for comprehensive regulation and all the other changes to make Wall Street accountable, instead of allow Wall Street to create a corporate state or what Franklin Delano Roosevelt called fascism, which is government controlled by private economic power, represented by people like Henry Paulson—once this happens, it’s not going to be reversible.
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