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Octafish

(55,745 posts)
3. That's where the 'Socialism' comes in.
Mon Mar 5, 2012, 10:28 AM
Mar 2012

David Feige explained the picture, back in '08:

Socializing Risk, Privatizing Profit

With an economic meltdown already in full swing, there is little question injecting some liquidity into the economy is a fine idea. Even doing so by buying a boatload of bad securities that no one seems to be able to properly value might not be fully idiotic, but doing so without taking an equity position in the firms being bailed out is just morally indefensible. Allowing greedy billionaires to suck down more cash like Schlitz from a frat house beer bong, sends all the wrong messages to Wall Street and the world: The United States has finally socialized risk, but privatized profit. And though that may be the Kleptocratic Bush administration's ultimate wet dream, it will ruin America in the long run.

CONTINUED...

But did we listen? Well, I mean "We" as in our elected representatives? Nooooo.

Recommendations

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Have YOU taken the Pledge? [View all] Octafish Mar 2012 OP
How it should be: lastlib Mar 2012 #1
That's where the 'Socialism' comes in. Octafish Mar 2012 #3
The typical Repub retort:: WingDinger Mar 2012 #2
While they worry about their partner's purity, they miss what is happening to the nation. Octafish Mar 2012 #4
Damn skippy! raouldukelives Mar 2012 #5
Integrity Octafish Mar 2012 #6
Latest Discussions»General Discussion»Have YOU taken the Pledge...»Reply #3