Timmeh is Teh Suxxor: the final bankruptcy of the left [UPDATE]

If anyone ever doubted that “drudge rules” elite discourse both left and right, the celebrity driven shallow panic of Left Blogistan over the last few weeks should settle the question. Tim “Timmy” Geithner is apparently a tool of the banksters and rejects the revolutionary line promulgated by Paul Krugman.  The “Swedish model” is delightful and the Japanese zombies should make us shiver in fear. Typical of the genre, Jane Hamsher informs us that the Geithner plan’s devious effort to avoid FDIC type liquidation will help the people who caused the crisis to make even more money; She illustrates Geithner’s perfidy without any awareness of the irony by showing how a top ex-Countrywide executive is making bundles of money — from a FDIC bank liquidation.

At the celebrity-fanzine level of analysis “Timmeh and Larry” are bad guys, Wall’s Street’s bitches who are “bending over” and so the public will “get reamed”. The economic crisis is reduced to a media product – a weirdly sexualized drama with cliffhanger suspense and a sense of utter urgency. Along with this drama we get a world view in which Wall Street and finance and the big shots of Wall Street and DC are the actors of a spectacle that we consume as we cheer or boo. Labor unions? Organized citizens? Working scientists and engineers and small business owners? Local officials? Who cares? Jim Cramer is on (boo) and Nuriel Roubini[Edited since Defected] Paul Krugman is speaking (HOORAY!). The shallowness of this supposed “criticism from the left” exposes the intellectual bankruptcy of the “progressive left”: a group that has been trading distressed assets that it calls “ideology” for far too long.