US congressman: “If we don’t pass this bill, we’re going to have martial law in the United States”

By Tom Eley writing at WSS

(3 October 2008)

In the wake of Monday’s vote in the US House of Representatives rejecting the $700 billion bailout package for the American financial industry, prominent voices in the US and international media have responded by denouncing the lower house of Congress and complaining that the American political system is too susceptible to popular opinion and insufficiently obedient to the will of the corporate and political elite.

The yearning for more authoritarian forms of rule was expressed by, among others, Michael Gerson, the former chief speechwriter for George W. Bush. In a column in the Washington Post, he complained, “[I]t is now clear that American political elites have lost the ability to quickly respond to a national challenge by imposing their collective will.” The Times of London, part of Rupert Murdoch’s media empire, was even more blunt, headlining a column, “Congress is the Best Advert for Dictatorship.”

Socialist Equality Party (SEP) vice presidential candidate Bill Van Auken authored an article on the World Socialist Web Site Wednesday (“The Wall Street bailout and the threat of dictatorship”) explaining the connection between the appearance of such openly anti-democratic polemics in the mainstream media and the bill to bail out Wall Street that is being pushed through Congress.

Van Auken wrote, “The furor over the vote in the House serves as a warning that capitalism in crisis will inevitably move toward new forms of rule capable of defending the economic dictatorship of finance capital by means of an open political dictatorship against the working class.”

The next day, the Los Angeles Times, in an article on the Senate passage of the bailout measure, noted in passing a statement by Democratic Rep. Brad Sherman from the San Fernando Valley in Southern California which underscores the authoritarian atmosphere surrounding the proceedings in Congress.

Sherman, who voted against the bailout bill on Monday, said, “The one thing that’s been proven is the absolute fear-mongering that’s being used to drive us is false.” He continued, “I’ve seen members turn to each other and say if we don’t pass this bill, we’re going to have martial law in the United States.”

The Los Angeles Times offered no comment on this astounding statement.

The World Socialist Web Site has long warned that the growing concentration of wealth and widening social inequality in the US are ultimately incompatible with democratic forms of rule. These deeply anti-democratic tendencies are being accelerated by the eruption of the financial crisis and the response of the American ruling elite and both of its political parties.

As Van Auken wrote:

“The crisis is being utilized to effect an ever more immense concentration of economic power that is incompatible with political democracy. Three banking behemoths—Citigroup, Bank of America and JPMorgan Chase—are gobbling up their failing competitors and now control fully a third of US bank deposits… These intense social antagonisms cannot be contained within America’s existing political set-up.”


1 Comment

Filed under Capital markets, capitalism, finance, United States

One response to “US congressman: “If we don’t pass this bill, we’re going to have martial law in the United States”

  1. Suffering Groups


    Dear Sir,
    From 1972 after independent, Bangladesh Nationals started to establish Industries investing family resources ,using Innovative Technology as self earner to achieve Economic Freedom & to create jobs for millions of unemployed when almost everything was damaged due to Liberation War and These Entrepreneurs are commonly know as 1st ( first ) Generation Industrial Entrepreneur of Bangladesh
    Government also started to help these fast growing PRIVATE SECTOR INDUSTRIES AS IMPORT SUBSITUTES and for EXPORT having fund from International Loan Giving Agencies which were distributed through different Banks from 1979
    Unfortunately the Owners of these Industries became helpless victims of deep rooted conspiracy and Anti Propaganda. The Bank officials refrain themselves from ascertaining production capacity of imported machineries and to provide required working capital loan in time extending non-cooperation harassment, negligence and fraudulent activities. And all these have been done willingly just to jeopardize the Government Industrial policy as well to terrorize the Owners of Industries of Private Sector finally to occupy the Mortgage Properties of the owner of the Industries under Private Sector.
    Due to such activities Hundreds and Thousands of Industries were destroyed by Bank Officials and Policy Maker.
    Over and above capitalizing the Illiteracy, Ignorance and Extreme Poverty of Vast Majority Bangladesh Citizens most of such laws were forced upon the Citizen including Owner of the Industries of Private Sector in co-operation with their alliances who are busy to convert Bangladesh a Bottom less Country.
    Due to such activities most of the Industries have became in-operatives and have lost their Cash Capitals, Expatriate Capabilities and became helpless victims of oppressive laws.

    In 1992 & 1996 Government of Bangladesh identified and registered many Industries as SICK INDUSTRIES declaring not as Defaulter of Bank Loan but victims of Violation of Contract , Negligence , Fraudulent or Malpractices of Bank Officials. And Policy Maker due to Lack of Accountability. And the matter of Lack of Accountability at every stage of Bangladesh is no more a hidden Matter.
    THE HELPLESS OWNERS OF INDUSTRIES ARE LOOKING FOR JUSTICE, BUT THE DOOR OF JUSTICE ARE CLOSED Due to Enactment of a Law Know as ARTHA RIN ADALAT ACT ( Bank Loan Recovery Act ) on 1989 which were also amended on 2003 and 2007 . Bank Ruptcy Acts were also enacted on 1997 treating the Owners of Industries under Private Sector like as Slave of Colonial Period WHEN THE HANDS OF THE PRODUCER AND TECHNICIAN OF MOSLIN FABRICS ( which were only produced in Bengal of undivided INDIA) were cut down to stop production of Finest Fabrics by Bengali Technicians and Producer.
    But surprisingly the ARTHA RIN ACT are not applicable for Nationalized or State Sector .where BILLIONS OF DOLLARS are spend till today without any accountability.

    Out of Total of outstanding defaulted Bank Loans, about 60 to 70 % are lying with Nationalized / State Sector and less then 10 % are lying with Small and Medium sized Industries of Private Sector of Bangladesh. And Bank Official can explain well about the remaining of the Loan Amount.

    Due to which BANGLADESH HAS BECOME A HEAVEN FOR REPRESSION / EXPLOITATION Forcing the process to increase Poverty line in Geometric Ration & also helping the process of Lawlessness and Human Trafficking .
    The Owners of Industries of Private Sector can not claim any set – off or compensation on the same suit as filed by BANK OFFICIALS or THE LOAN GIVING AGENCIES for Loan Recovery under Artha.Rin Act . for VIOLATION OF CONTRACT , NEGLEGENCES , Malpractices of Bank officials / Policy Maker.
    AS A RESULT NUMBER OF SICK / DISTRESSED INDUSTRIES are increasing in every year due to complete lack of accountability of Bank Officials and Policy Maker .
    BANK OFFICALS / LOAN GIVING AGENCIES HAVE BEEN ALLOWED TOTAL INDEMNITY OF LAW for violation of contract , negligence, Fraudulent Activities , . These have been done to hide out existing high profile malpractices and corruptions as per opinion of Expert Personals.

    The Owner of Industries of Private Sector have no Legal Right to protect themselves from the oppression of Bank Officials & Policy Maker and these are no more hidden matter ,rather a part of the on going conspiracy to make Bangladesh a Bottom Less Basket.
    Although in neighboring countries Like INDIA where there is LAW FOR LOAN RECOVERY KNOWN AS “ DEBT RECOVERY TRIBUNALS ( DRT )” where the Owner of Industries or other borrowers are allowed to claim Set off or Compensation in same suit and same court at same time.
    But in BANGLADESH Owner of Industries or Other Borrowers of Bank Money are completely deprived of any such opportunity rather provision have been to hide out corruption , negligence, fraudulent activities of Bank Officials as per opinion of Expert Personals giving TOTAL INDEMNITY OR LICIENCE FOR UNENDING CORRUPTION OR MAL PRACTICES & Violation of Contracts & negligence .,
    And Owner of Industries or Borrowers of Bank loans are completely deprived of any type of JUSCTICE. Common people are also facing another type of repression UNDER CERTIFICATE CASE for realization of Government Taxes . small loan of farmers , weavers etc ,
    Industrial Entrepreneurs can only file a separate suit for compensation in a separate Civil Court which will be a matter of life long litigation .with no result .
    As per Artha Rin Act nothing can be raised against the Order or Decree of Artha Rin Court to Higher Court and also without Payment of 50 % of the suit value or Decretal Amount,
    The door of appeal or revision are closed denying the Legal right of Owners of Industries. As per Sections 12, 12 ( kha) , 18(2) & (3) , 19, 20,21,33, 34,40,41,42,44, 47 and 50 of Artha Rin Act.
    There are no other alternative way , but to draw the attention of concern authority of Bangladesh including PATRIOT INTELLECTUAL PERSONS AND LEADER OF CIVIL SOCIETY AND INTERNATIONAL COMMUNITY TO VERYFY the above and help for restoring EQUAL RIGHT for JUSTICE . and to help to Protect the Owner of Industries including Workers and other supporting Staffs who are already in Distressed Condition due to lapses of Policy Maker an Bank Officials and of the Oppressive Laws .
    And to help to restore the accountability in all organizations including BANKS & other Loan Giving Agencies for the greater Interest of Nations please Circulate our humble appeal among Honorable Members , Partners of your organizations or in your News Bulletins and in Printed or Electronic News Media for Transmission this appeal among all organizations working for HUMAN RIGHT , DEMOCRATIC RIGHT and to PREVENT LEGAL ABUSE and OPPRESSIVE LAWS and also to consider the followings :

    1-. Humble Appeal before the Government of Bangladesh to allow Owners of Industries to claim SET OFF or COMPENSATIONS for Negligence , Violation of Contract , Fraudulent or Malice Activities when the Bank Officials file any suits for recovery of Loan similar to DRT ( DEBT RECOVERY TRIBUNALS ) OF INDIA

    2- Considering the heavy Loss / Damages of Government Registered & Identified SICK INDUSTRIES of 1992 & 1996 of Private Sector may be allowed 100 % weaver closing all Pending Suits for recovery of Loan unconditionally .

    3- The Existing System of Mortgage of Landed Properties .for getting Loan need to be completely abolished .to remove ever growing corruption , malpractices and fraudulent Activities which exist in Banking Sector and are much Proven Facts for the greater national interest.

    4- All pending suits in Atrha Rin Court may kindly be transferred to Civil Commercial Court abolishing Sections 12, 12( kha) , 18(2) & 18(3), 19,20,21,33, 34,40,41,42,44,47 and 50 of Artha Rin Acts including Sections 28 ( Ks) of Banking Company Acts , Creating Democratic Opportunities similar to DEBT RECOVERY TRIBUNAL S ( DRT ) of INDIA for the end of JUSTICE.

    5- And to take immediate steps to abolish the system of CERTIFICASE CASE which are nothing but abuse of LAW and worst one like that of COLONIAL RULE .

    Suffering Groups of Owners of Industries of Bangladesh.

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