Socialism even a robber baron could love
As near as I can tell, the proposed financial industry bailout package constitutes little more than a 700 billion dollar gift of taxpayer’s money to huge banking corporations, with virtually no strings attached. No regulatory reform; no help for strapped homeowners; no public stake in the corporations being saved.
Just a gift, pure and simple — sent along with a kiss and a hug.
Oh, and if Democrats in Congress don’t rubberstamp the giveaway they’ll be accused of endangering the US economy: so they’ll probably cave.
The word pathetic doesn’t even begin to cover this.
September 21st, 2008 at 8:21 pm
Ask me if I’m going to repay my student loans. Ask me if I’m going to repay my credit card debts. Why the hell should I?
September 22nd, 2008 at 1:24 pm
So if we “bail out” the financial industry on the mortgage crisis, does that mean that we, the taxpayers, become the owners of all those homes (since so many are in default)? If so, do we have the ability to somehow restructure the loans to allow people to keep their homes? Or can we at least turn them into a form of Section 8 housing?