The good news about this economic crisis is that it may do what all the "freedom of expression" on the internet has not been able to do: finally reveal to those in power how disoriented they are.
Disorientation is when one thinks up is really down. When it happens to airplane pilots they crash. When it happened in the financial industry (with the encouragement of politicians) the economy crashes.
The Goldman Sachs representatives testifying to the Senators on April 26 respond with the "dog look" while Senator McCaskill uses the bookie metaphor to explain to the television audience what they do. They defend that what they did was "legal". Likewise, Blankfein has chosen to defend against the SEC civil fraud charges in court, claiming they did nothing "illegal".
What was the “up” alternative to Blankfein’s “down” choice? Isn’t it to say, “we blew it, let’s pay the fine and agree on how to prevent this from happening in the future?” Or better yet, what if Blankfein had cried “Wolf” before making the situation worse? Wouldn’t it have been better to say that the market is not willing to bear any more or higher risk mortgages to make it possible for more people to own a home and raise their standard of living. . . It’s time to create a new investment product and wouldn’t it be great if it also lowered the risk in the mortgage backed securities by creating jobs for all these high risk mortgage payers?
Democratic congressional leaders think they are doing the right thing by passing healthcare reform, but all signs are that Congress is in for a major turnover in the Fall.
What is the “up” alternative to Democratic congressional leaders’ “down” choice? Isn’t it to say, it’s unfortunate that we had to make backroom deals with insurance companies which will lead to higher costs for you and more profits for insurance companies? Or better yet, what if the Democrats had started by dealing with campaign finance reform first, so healthcare reform issues could be debated in the open?
Why didn't the internet, by empowering freedom of expression, make a difference? Perhaps freedom of expression is not enough. We need to know the orientation of the voice to be compelled to listen, believe, or consider changing our opinion. Perhaps the internet, as it is today, is disorienting itself.