Excerpt from Thomas Frank's new book.
http://www.salon.com/2016/03/13/bill...ry_of_the_90s/
Someday we will understand that the punitive hysteria of the mid-1990s was not an accident; it was essential to Clintonism. Taken as a whole with NAFTA, with welfare reform, with his plan for privatizing Social Security and, of course, with Clinton’s celebrated lifting of the rules governing banks and telecoms, it all fits perfectly within the new, class-based framework of liberalism. Clinton simply treated different groups of Americans in radically different ways—crushing some in the iron fist of the state, exposing others to ruinous corporate power, while showering the favored stratum with bailouts, deregulation, and a frolicking celebration of Think Different business innovation.
Some got bailouts, others got “zero tolerance.” There was really no contradiction between these things. Lenience and forgiveness and joyous creativity for Wall Street bankers while another group gets a biblical-style beatdown—these things actually fit together quite nicely.
http://www.salon.com/2016/03/13/bill...ry_of_the_90s/
Someday we will understand that the punitive hysteria of the mid-1990s was not an accident; it was essential to Clintonism. Taken as a whole with NAFTA, with welfare reform, with his plan for privatizing Social Security and, of course, with Clinton’s celebrated lifting of the rules governing banks and telecoms, it all fits perfectly within the new, class-based framework of liberalism. Clinton simply treated different groups of Americans in radically different ways—crushing some in the iron fist of the state, exposing others to ruinous corporate power, while showering the favored stratum with bailouts, deregulation, and a frolicking celebration of Think Different business innovation.
Some got bailouts, others got “zero tolerance.” There was really no contradiction between these things. Lenience and forgiveness and joyous creativity for Wall Street bankers while another group gets a biblical-style beatdown—these things actually fit together quite nicely.
Comment