{"id":22876,"date":"2008-09-29T12:43:00","date_gmt":"2008-09-29T12:43:00","guid":{"rendered":"https:\/\/clusterfamilyoffice.com\/blog\/?p=459"},"modified":"2008-09-29T12:43:00","modified_gmt":"2008-09-29T12:43:00","slug":"eesa-2008-platon-y-la-republica","status":"publish","type":"post","link":"https:\/\/clusterfamilyoffice.com\/en\/eesa-2008-platon-y-la-republica\/","title":{"rendered":"EESA 2008. Plato and *The Republic*."},"content":{"rendered":"
The Emergency Economic<\/em> Stabilisation Act 2008 (EESA 2008)<\/span>, has become the most important and far-reaching constitution ever drafted in modern history. And it was drafted in just a few days, with round-the-clock work amidst hurried negotiations and in a situation of greater stress than the American political class \u2013 or any political class anywhere else in the world \u2013 has ever experienced<\/span>. Meanwhile, the rest of the world watches in astonishment as events unfold Sunday after Sunday, unaware of the future significance of the weeks we have been living through since the intervention took place Mac & Mae<\/a>. We have been saying for over a year now that history is being made, ever since, in the middle of August 2007, some of us (still only a few) woke up from the A Midsummer Night\u2019s Credit Dream<\/a>, but the drafting and subsequent adoption of the Emergency Economic Stabilisation Act 2008<\/span> It represents a genuine \u2018Re-founding Charter\u2019 for the global economic system. And it lays the foundations for a constitution for the new capitalist system. We are, in effect, reinventing the banking business and the foundations of the future credit system, and The most worrying thing is that we\u2019re doing it under time pressure and whilst facing record levels of stress and pressure<\/span>.<\/div>\n
<\/p>\n

There were two ways of making it work and ensuring its viability:<\/p>\n

    \n
  1. That the 2008 Emergency Stabilisation Plan (I don\u2019t know why, but I\u2019m reluctant to call it a \u2018law\u2019), which originally consisted of just three pages, was implemented at the discretion of the Bush administration and carried over by his successor.<\/li>\n
  2. May this simple document, which gave the leaders a free hand, evolve into a much more concrete 106-page text, the implementation of which must be overseen by both the government and the opposition.<\/li>\n<\/ol>\n

    At first glance, the second option seems the more sensible choice, but it could be a double-edged sword, as partisan political interference could seriously hamper the effective implementation of the 2008 Emergency Economic Stabilisation Act.<\/p>\n

    \"\"<\/a>The American political class is being put to the test in full view of the whole world. And what is most worrying is that its ability \u2013 or inability \u2013 to rise to the occasion will affect us all. Perhaps option 1 would have been more effective, albeit less democratic. It would have allowed the freedom to cover up scandals and restore confidence in the system. Something similar to what usually happens when one acts in the interests of the state, or in this case, going even further, System Reason<\/span>. However, the regulatory framework for the new system \u2013 that is, the way in which financial institutions are (I hope) going to be kept on a tight leash from now on \u2013 must indeed be agreed upon by both the Congress and the Senate in order to avoid, as far as possible, favouritism, potentially corrupt decisions and the dreaded laxity<\/span>.<\/p>\n

    Only as the weeks and months go by will we find out whether the 106-page document, the oversight by senators and members of Congress, and their ability to veto the use of half of those 700,000 millones from the $ programme will prove to be a positive development or not. Since initially only 250,000 will be released, with the option of a further 100,000, the government (whichever party is in power at the time) will then have to pass a renewal<\/span> before Congress and the Senate before he is grant<\/span> a further 350,000 million $. To save the system, it may be necessary to take too many politically incorrect decisions that will not pass the scrutiny of so many politicians who, before giving their approval, will look to their voters, fearing they might lose their future support. But this delicate process of implementing these funds requires agility, determination and a steady, surgical touch<\/span>. This is something the man in the street is not equipped to deal with, and I fear that neither is a large part of the political class, which has been elected on the back of electioneering demagoguery. Politicians and political opportunists, whose quest for fame and power they may now be reluctant to jeopardise by endorsing measures that will have a direct and severe impact on their voters\u2019 pockets.<\/p>\n

    \"\"<\/a>For everyone\u2019s sake, I hope that the American political class, for once in their lives, will live up to what is expected of them and, instead of engaging in party politics, govern<\/span> for a few months in coalition with the leadership. And this must be done both by the Democrats in opposition and by the Republicans\u2019 own internal opposition, who, to date, have been the most reluctant to support the implementation of measures that might save the system.<\/p>\n

    The path is beginning to come into view; now all that remains is for politicians to shake off their bad habits and devote themselves to Politics with a capital P, recalling the times of Plato and the Republic,<\/a> but without forgetting to adapt it to our reality.<\/p>\n

    <\/p>\n

    Let us hope that electoral manoeuvring and republican liberal fundamentalism do not hinder the pilots who must guide this aircraft \u2013 in which we are all on board \u2013 to the runway. It will undoubtedly be the most dramatic emergency landing in history, and one in which there may be many casualties. When we were writing Fasten your seatbelts<\/a> On 14 September 2007, the aircraft\u2019s technical problems were far less serious than they were a year later. Today, the hydraulic systems \u2013 so vital to any aircraft \u2013 have failed, and we are hurtling towards the runway in an emergency in which we must all do the right thing to survive. Because if anyone tries to exploit the situation for political gain, they will end up being elected president of the most barren region ever seen. Meanwhile, the markets continue to turn their backs on the 2008 Emergency Stabilisation Act<\/span>. Something that is, in a way, trivial, because what is really at stake is far more important than the markets.<\/p>\n

    When a mob exercises authority, it is even more cruel than tyrants.<\/p>\n

    Plato (428 BC \u2013 347 BC)<\/span><\/p><\/blockquote>\n<\/div>","protected":false},"excerpt":{"rendered":"

    El Emergency Economic Stabilization Act of 2008 (EESA 2008), se ha convertido en la Carta Magna m\u00e1s importante y transcendente de las que se hayan redactado en la Historia Moderna. Y se ha redactado en unos pocos dias, trabajando 24 horas entre negociaciones apresuradas y en un entorno del mayor estr\u00e9s jam\u00e1s sufrido por la […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-22876","post","type-post","status-publish","format-standard","hentry","category-sin-categorizar"],"_links":{"self":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/22876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/comments?post=22876"}],"version-history":[{"count":0,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/posts\/22876\/revisions"}],"wp:attachment":[{"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/media?parent=22876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/categories?post=22876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/clusterfamilyoffice.com\/en\/wp-json\/wp\/v2\/tags?post=22876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}