He said he wanted his attack to be more effective than Adam Lanza‘s shooting rampage at Sandy Hook Elementary.
With an Ivy League education, and years of association with some of the brightest people in Washington, D.C., Tim Geithner is still unable to think of any alternative to what happened in 2008. He missed one of the lessons of It’s A Wonderful Life, which is that people’s money/labor is theirs, and that the bank is a place where collective wealth exists, and can be used for collective good. In other words, the achievement of the James Stewart character in the film is to show the viewer how to live without banks and bankers, whose interests have little to do with Bedford Falls. Geithner has convinced himself, in a grand gesture of rationalization, that no alternative existed, and still does not.
It’s like the power grid. You have to make sure the lights stay on, because if the lights go out, then you face the damage like what you saw in the Great Depression or It’s a Wonderful Life. More people lose their jobs, more people lose their businesses, lose their homes, their savings, and they’re devastated. There is not way to avoid those outcomes or protect people against those outcomes, unless you keep the lights on. That requires doing things that are terribly unfair and look deeply offensive. It looks like you are rewarding the arsonist or protecting people from their mistakes, but there is no alternative.
— Geithner in The Wall Street Journal‘s Money Issue (June 2014)
Slavoj Žižek indicates the same problem is at work with Thomas Piketty’s new book on capitalism. The capitalists don’t know how to do without capitalism. They are incapable of Hegelian negation. “[Piketty] accepts, as a good Keynesian, that capitalism is ultimately the only game in town; all alternatives ended up in fiasco, so we have to keep it.”
What’s worse about Geithner is that he knew what he did looked “like the opposite of what makes sense.” It’s a Wonderful Life, on a most superficial reading, shows neighbors rescuing a neighbor, friends helping friends, townspeople pulling together for a person in trouble. Those are alternatives that do not make sense to readers of The Wall Street Journal and to Tim Geithner. They cannot leave important financial decisions up to common people who cannot comprehend why anyone would say it’s utterly plausible to do what is “terribly unfair.”
You’re not there to get an education, though they tell you that. You’re there to make revenue for the college. You’re there to put fans in the seats. You’re there to bring prestige to the university by winning games.
— Rashad McCants, former UNC – Chapel Hill basketball player
Yes, “they” will tell you that. “They” are the people at universities who will not acknowledge the truth that revenue drives decisions, not whether students receive an education. I do not know where on the list education is, but it is unlikely in the top four or five. Prestige, as in the film by that title, is a magic show. You think you are seeing education at public universities, but it’s a trick, sleight of hand, maybe mirrors, illusion. Prestige is like “The Mansion” section of The Wall Street Journal, where people define themselves, their success, by whether they have a private plane in their garage instead of a car. It looks like a tangible thing. Others see it. “They” tell you owning a private jet means you’ve made it. They say you’re winning the game of life, as if the sayings of Charlie Sheen were part of a philosophical guidebook.
In Louie C.K.’s television show, he has written a scene between himself and his daughter. It’s a scene you won’t find mentioned in The Wall Street Journal or quoted by a public university president or chancellor.
Daughter (D): Why does she get one and not me? It’s not fair.
Louis (L): You’re never gonna get the same things as other people. It’s never gonna be equal. It’s not gonna happen ever in your life, so you must learn that now, okay?
Listen — the only time you should look in your neighbor’s bowl is to make sure that they have enough. You don’t look in your neighbor’s bowl to see if you have as much as them.
A few years back, in the infamous beef defamation case, Oprah was accused of taking the meat out of Texas, but now Texas has done that all by itself. Texas is taking the meat out of its educational system. How to improve those graduation rates? Take the hard stuff out of the curriculum and reduce the number of those mandatory tests.