Public-private partnerships based on fascist economic model.
Public-private partnerships are the very essence of what used to be called fascism, before the latter term became tangled up with the racist ideology of Nazism and diluted to refer to any police-state apparatus. In point of fact, fascism as an economic program involved government control--but not outright ownership of--private capital, so that industry could be channeled to serve the priorities of the state. This, journalist John Flynn pointed out more than 60 years ago in his book As We Go Marching, is precisely what FDR tried to accomplish in the United States during the 1930s and '40s.
Unfortunately, the fascist legacy of FDR's New Deal is very much alive and well, as manifested by this latest proposal to marry the public and private sector to serve the interests of the power elites.
As for the loyal GOP opposition, House Republican Whip Eric Cantor correctly called the Obama proposal a "shell game," a plan that "seems to offer little incentive for private investors to participate unless the subsidy is made so rich that it comes at the expense of the taxpayer."
But what is the Republican answer to the Obama administration's "shell game" of public-private partnering? According to Tom Raum of the Associated Press, Cantor said "he hoped the administration would consider instead an earlier Republican proposal to set up a government-sponsored insurance program for mortgage-related securities."
We are thus left with two alternatives, both of them squaring perfectly with the fascists' old program: a government-sponsored buyout, or government-sponsored insurance. Either would prove horrendously costly, not only in economic terms, but also in terms of out all-but-forsaken Constitution, which makes no allowance for such public-private enterprises in the first place.
Somewhere, Mussolini must be smiling.