Lefty Dreams: “The Right of All Citizens to Larger Lives”

Dear Prager World: Please read the following article very carefully. How do we know this writer’s politics from reading this article? What might be his age and background? What are his assumptions? Analyze them as Prager would.

The Future of the American Dream By William Greider, The Nation
This article appeared in the May 25, 2009 editiorial

As Franklin Roosevelt understood, Americans will postpone immediate gratification and endure hard sacrifices–if they must–so long as they are convinced the future can be better than the past. But we face a far more difficult problem at our moment in history. What do you promise people who have been told they can have anything they want, who are repeatedly congratulated for living in the best of all possible circumstances? How do you tell them “the good times,” as we have known them, are not coming back? Americans need a new vision that helps them deal with reality, a promising story of the future that helps them let go of the past.

Here is the grand vision I suggest Americans can pursue: the right of all citizens to larger lives. Not to get richer than the next guy or necessarily to accumulate more and more stuff but the right to live life more fully and engage more expansively the elemental possibilities of human existence. That is the essence of what so many now seem to yearn for in their lives. People–even successful and affluent people–are frustrated because the intangible dimensions of life have been held back or displaced in large and small ways, pushed aside by the economic system’s relentless demands to maximize yields of profit and wealth. Our common moral verities have been trashed in the name of greater returns. The softer aspects of mortal experience are diminished because life itself is not tabulated in the economic system’s accounting.

The political order mistakenly accepts these life-limiting trade-offs as normal, as necessary to achieve “good times.” At earlier periods of our history, the sacrifices demanded by the engine of American capitalism were widely tolerated because the nation was young and underdeveloped. The engine promised to generate higher levels of abundance, and it did. But what is the justification now, when the nation is already quite rich and the engine keeps demanding larger chunks of our lives?

What families, even those who are prosperous, typically lose in the exchange are the small grace notes of everyday life, like the ritual of having a daily dinner with everyone present. The more substantial thing we sacrifice is time to experience the joys and mysteries of nurturing the children, the small pleasures of idle curiosity, of learning to craft things by one’s own hand, and the satisfactions of friendships and social cooperation.

These are made to seem trivial alongside wealth accumulation, but many people know they have given up something more important and mourn the loss. Some decide they will make up for it later in life, after they are financially stable. Still others dream of dropping out of the system. If we could somehow add up all the private pain and loss caused by the pursuit of unbounded material prosperity, the result might look like a major political grievance of our time.

More important than all the other losses is that people are also denied another great intangible–the dignity of self-directed lives. At work, at home and in the public sphere, most people lack the right to exercise much of a voice in the decisions governing their daily lives. Most people (not all) are subject to a system of command and control over their destinies. They know the risks of ignoring the orders from above. Not surprisingly, many citizens are resigned to this condition and accept subservience as “the way things are,” and their lives are smaller as a result. Many find it hard to imagine that these confinements could be lessened, even substantially removed, if economic organizations were informed by democratic principles.

What’s needed in American life is a redefinition of “life, liberty and the pursuit of happiness.” Given the nation’s great wealth, the ancient threats of scarcity and deprivation have been eliminated. Yet people remain yoked to economic demands despite wanting something more from life–freedom to explore the mysteries and bring forth all that is within them. Collectively, Americans need to take a deep breath and reconsider what it means to be rich.

Dear Prager Friends: Examine the dream offered by Wm. Greider of the Nation. Could you identify where we readers might know he is Obamaman? Is he? What are his assumptions? Who could possibly have anything against “the right of all citizens to large lives?” What comes to mind with the phrase, “the right of all citizens to large lives?” Analyze Mr. Greider’s economic program so advance his dream. Describe what Dennis might ask or how he might analyze Mr. Greider’s dream if he were mentioning in on Patriot radio. ghr

More Obama’s Thugs At Work

WHITE HOUSE PUTS UAW AHEAD OF PROPERTY RIGHTS

By Michael Barone Real Clear Politics article…May 7, 2009

Last Friday, the day after Chrysler filed for bankruptcy, I drove past the company’s headquarters on I-75 in Auburn Hills, Mich. As I glanced at the pentagram logo, I felt myself tearing up a little bit. Anyone who grew up in the Detroit area, as I did, can’t help but be sad to see a once great company fail.

But my sadness turned to anger later when I heard what bankruptcy lawyer Tom Lauria said on a WJR talk show that morning. “One of my clients,” Lauria told host Frank Beckmann, “was directly threatened by the White House and in essence compelled to withdraw its opposition to the deal under threat that the full force of the White House press corps would destroy its reputation if it continued to fight.”

Lauria represented one of the bondholder firms, Perella Weinberg, which initially rejected the Obama deal that would give the bondholders about 33 cents on the dollar for their secured debts while giving the United Auto Workers retirees about 50 cents on the dollar for their unsecured debts.

This, of course, is a violation of one of the basic principles of bankruptcy law, which is that secured creditors — those who loaned money only on the contractual promise that if the debt was unpaid they’d get specific property back — get paid off in full before unsecured creditors get anything. Perella Weinberg withdrew its objection to the settlement, but other bondholders did not, which triggered the bankruptcy filing.

After that came a denunciation of the objecting bondholders as “speculators” by Barack Obama in his press conference last Thursday. And then death threats to bondholders from parties unknown.

The White House denied that it strong-armed Perella Weinberg. The firm issued a statement saying it decided to accept the settlement, but it pointedly did not deny that it had been threatened by the White House. Which is to say, the threat worked.

The same goes for big banks that have received billions in government TARP money. Many of them want to give back the money, but the government won’t let them. They also voted to accept the Chrysler settlement. Nice little bank ya got there, wouldn’t want anything to happen to it.

Left-wing bloggers have been saying that the White House’s denial of making threats should be taken at face value and that Lauria’s statement is not evidence to the contrary. But that’s ridiculous. Lauria is a reputable lawyer and a contributor to Democratic candidates. He has no motive to lie. The White House does.

Think carefully about what’s happening here. The White House, presumably car czar Steven Rattner and deputy Ron Bloom, is seeking to transfer the property of one group of people to another group that is politically favored. In the process it is setting aside basic property rights in favor of rewarding the United Auto Workers for the support the union has given the Democratic Party. The only possible limit on the White House’s power is the bankruptcy judge, who might not go along.

Michigan politicians of both parties joined Obama in denouncing the holdout bondholders. They point to the sad plight of UAW retirees not getting full payment of the health-care benefits the union negotiated with Chrysler. But the plight of the beneficiaries of the pension funds represented by the bondholders is sad, too. Ordinarily you would expect these claims to be weighed and determined by the rule of law. But not apparently in this administration.

Obama’s attitude toward the rule of law is apparent in the words he used to describe what he is looking for in a nominee to replace Justice David Souter. He wants “someone who understands justice is not just about some abstract legal theory,” he said, but someone who has “empathy.” In other words, judges should decide cases so that the right people win, not according to the rule of law.

The Chrysler negotiations will not be the last occasion for this administration to engage in bailout favoritism and crony capitalism. There’s a May 31 deadline to come up with a settlement for General Motors. And there will be others. In the meantime, who is going to buy bonds from unionized companies if the government is going to take their money away and give it to the union? We have just seen an episode of Gangster Government. It is likely to be part of a continuing series.

Note: For those Prager fans probing for more information regarding student body president Obama’s assault on America and its free enterprise economic system, may I suggest you turn regularly to RealClearPolitics for knowledge enrichment. Obama’s assaults are coming on all fronts. Know them all. Other writings listed for May 7, 2009 include “Capitalism in Crisis” by Richard Posner, WSJ; Obama is Mismanaging the Collapse of Detroit’s Giants”, from the Economist; “Obama’s Health Care Quackery”, by Shikha Dalmia among so many others. ghr

Obama’s Thugs At Work: Thomas Lauria Threatened

LAURIA ALLEGATIONS OF THREATS CORROBORATED

Hot Air May 5, 2009 by Ed Morrissey

Business Insider reports that more than one Chrysler senior creditor has corroborated Thomas Lauria’s allegation that the Obama administration threatened them with public attacks if they didn’t surrender their contractual rights. One of their sources says that the Obama team comprises some of the worst “ends justify the means” people he’s ever encountered (via HA reader Geoff A):
Creditors to Chrysler describe negotiations with the company and the Obama administration as “a farce,” saying the administration was bent on forcing their hands using hardball tactics and threats.

Conversations with administration officials left them expecting that they would be politically targeted, two participants in the negotiations said. …
The sources, who represent creditors to Chrysler, say were taken aback by the hardball tactics that the Obama administration employed to cajole them into acquiescing to plans to restructure Chrysler. One person said described the administration as the most shocking “end justifies the means” group they have ever encountered. Another characterized Obama was “the most dangerous smooth talker on the planet- and I knew Kissinger.” Both were voters for Obama in the last election.

One participant in negotiations said that the administration’s tactic was to present what one described as a “madman theory of the presidency” in which the President is someone to be feared because he was willing to do anything to get his way. The person said this threat was taken very seriously by his firm.
Well, that’s certainly reassuring. The man at the helm during one of the biggest economic crises in decades is a madman who will act in an unpredictable and irrational manner if he doesn’t get his way. It sounds like they paint Obama as either a lunatic or a petulant child.

As Glenn Reynolds says, the country is in the very best of hands.
The story now has more than one source, and mounting testimony — albeit understandably anonymous testimony, at least at this point — that the White House tried threatening senior creditors instead of doing their job in enforcing the law. Not only do they not realize that their responsibilities do not include building business plans for private enterprises, but also don’t include assuming the role of Michael Corleone and acting like organized-crime thugs. Actually, the way the White House made Obama sound, maybe Sonny Corleone is a better analogy … or perhaps Fredo.

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