A very thought provoking interview with Chris Whalen at King World News today on fraudclosure, mortgage backed securities, the multi-trillion dollar oopsie that is the herpes infected U.S. real estate market, and the realization that corporatism (e.g. multinational corporations effectively buying politicians to further their corporate interests) has removed ethics and morality from American politics.
Question: Eric King
Do you think it would be better for the wider [American] civilization if bankers [and corporations] be surgically removed from our political process?
Answer: Chris Whalen
I think it does. We’ve had a fight in this country periodically over the accumulation of political power under the banks and large corporations.
Ironically, Teddy Roosevelt, a Republican, was one of the most effective advocates for the popular view, but this goes back to [Andrew] Jackson and [Thomas] Jefferson and I think all of their warnings [on the dangers of central bankers and large banking establishments are more dangerous than standing armies] have been proven.
Which are that corporations are anti-Democratic, they are authoritarian, and they also tend to be very corrupt. And for that reason, you have to exclude them from our public life.
I hope that even down the road we’re going to even amend our Constition so that we prohibit corporations from have any role in our public life. And we only have, what you could call in Spanish – moral persons or personas morales – who are able to vote, actually participate in the making of public policy.
Which brings up a worthy debate: if our founding fathers had the foresight to exclude personal religion from the affairs of state (e.g. separation of church & state), should the separation of corporate interests and the legislative process (e.g. separation of corporate affairs and politics) be included as an amendment to the U.S. Constitution.