Senate and House conferees are about to reconcile a financial reform bill that is virtually designed to institutionalize “too big to fail.” And when they do we’ll lose another battle in the ongoing war between global financial markets and democratic nation-states.Well, I would argue that there has never been real democracy since the ancient Greeks practiced it on a limited basis. There has been a lot of rhetoric about it, but it is mostly a facade behind which the elites rule as always. As an idea it remains a dream which all ordinary people hunger for. It is a dream that is part of a carefully managed program of indoctrination in which citizens are induced to believe that the concept means the holding of elections. Of course, the elites also manage the elections by controlling the candidates that ordinary people to vote for.
Here, in this article, is another example where intellectuals cannot name the system. Here he uses the term "financial theocracy" in place of capitalism. But I like the implication that the system is essentially a religion, a religion which does not tolerate unbelievers. And it has numerous taboos such as naming the system "capitalism".