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There is a powerful mood amongst the working class against bailing out the rich. It is so strong it defeated the bail out. The problem is there is no vehicle such as a mass workers' party to counter the ideological offensive of capital and through which this mood could channel itself and ultimately produce a more lasting and obvious alternative.

The capitalists are frantically trying to save their system. The ideological war is intense, "there will be catastrophe" if the working class doesn't agree to take on more debt. But the working class doesn't want to bail out the swindlers. The first vote failed as no one wants to be blamed. They'll add a few crumbs and likely get it passed with help from the Labor leaders who are wedded to capitalism and refusing to offer an alternative. But this shock has already had a significant effect on consciousness.

An examination of the leftist recuperator's version of this event...