You know where I stand on this. All
US presidents are fascistic to a dramatic degree, especially if we use Mussolini's definition of fascism - he called it "lo stato corporativo", the corporate state - and we can certainly toss in their imperial militarism, along with some more recent developments like Bush's Unitary presidency and Obama's insistence that he can assassinate anyone, anywhere at any time... yeah, the picture is pretty clear.
Mr. Sewell is clearly not paying attention if he thinks the point of the current political system is to shield politicians from their own ineptitude by shifting responsibility to the private sector elite. In fact, he must know that's the complete opposite of reality; a bald-faced lie that informs us of the author's real duties here. As Russell Mokhiber just pointed out elsewhere
When Charles Ferguson accepted the Academy Award in 2010 for his documentary film Inside Job, he told 30 million people viewing the award ceremony that “three years after a horrific financial crisis caused by massive fraud, not a single senior financial executive has been prosecuted and that’s wrong.”
Two years later, still no prosecution.
The politicians of both parties understand that they may have to "take a bullet" for the boys up top, and step down to a menial
$5M/year position in some think tank or private university. Sewell knows all of this, but it's important to pretend the drama is real, to keep up partisan appearances. He's a thinktanker himself, and he knows on which side his bread is buttered.
By the way, it's not just the US. The Eurogroup (and they actually call themselves that... like they want to be some kind of superhero team or something) just announced how pleased they were with Spain's "restructuring of its financial sector." What restructuring? WTF? You would think at least one
of these bozos would have to get fired or jailed in order for anyone to call it a restructuring. But no. The ruling party got tossed out, once again for the purposes of keeping up appearances, but all of the essential policies remain intact, and that's what really matters.