Babylon's Bankers


May 22, 2011 By Joseph P. Farrell

It is now beginning to look as if Dominique Strauss-Kahn was set up to take a fall:

IMF chief Strauss-Kahn caught in \"Honey Trap\" by Mike Whitney

What is interesting about this article is the total context in which the author argues his case, namely, that in the wake of the ending of the Cold War, two things happened: (1) the IMF, largely at the instigation of American and Western imperialist interests, imposed the so-called "shock therapy" on the economies of the former Communist bloc, and (2) while imposing these restrictions on the former Eastern bloc, allowed the Western economies, and in particular, the American, to engage in unbridled de-regulation - a process begun in the Reagan era - and speculation.

Strauss-Kahn was a voice of "moderation" within the halls proposing an increased role for government regulation and, notably, a more prominent role for "collective bargaining," that is, organized labor. In my opinion, it was the latter that perhaps really set off the alarm bells within the monied and powerful halls of the Gnomes of Zurich, for organized labor, unlike the international and global banks and corporations, remains hopelessly tied to national organizations and structures. Strauss-Kahn was perhaps also suggesting that an internationalizing of collective bargaining would be the instrumentality for a more "equitable distribution of wealth."

Such an internationalizing of organized labor is not as far-fetched nor as difficult to imagine as it might at first seem, for with the world increasingly tied together by an internet-based information exchange, the possibilities for workers in various industries to coordinate action has grown exponentially. The only thing lacking thus far has been a serious attempt to do so. The last thing the banksters need - especially now - is an organized opposition.

Which leaves the imperialist angle. While Strauss-Levi was "just another international bankster" he was at least one not willing to rush headlong into the destruction unrestrained greed and its imperialistic manifestations inevitably bring; he was, at least, a voice - if not of sanity - then of at least something closer to it than what has usually emanated from the IMF, the City of London, and Wall Street. If Mr. Whitney's analysis is correct, this therefore means that business-as-usual has returned to the IMF, and that means that insanity reigns once again.