Monday, August 10, 2009

Banks Make $38bn from Overdraft Fees

From the middle of September 2008 till about the end of that year, I, as editor of MRZine, received a flood of submissions on the subject of the "Crisis of Capitalism" from assorted leftists. That genre of submissions has virtually disappeared, as it became clear to all, even leftists, that -- given the ruling-class alacrity in solving their collective action problem and the working-class difficulty in solving ours -- this is not a crisis of the capitalist class but a crisis of the working class, which is apparently not as exciting a topic for leftists as the idea of the Crisis of Capitalism.

The biggest international news this year so far has been the Israeli bombing of Gaza and the electoral dispute in Iran, which has even eclipsed the first successful military coup d'etat in South America since the end of the Cold War, let alone a little matter of bailed-out banks' ill-gotten gains: e.g., Saskia Scholtes and Francesco Guerrera, "Banks Make $38bn from Overdraft Fees" (Financial Times, 10 August 2009). I suspect a nefarious Zionist-Islamist conspiracy to try to hoodwink international leftists.

1 comment:

G said...

Central America, not South America.