[lbo-talk] Socialism ascendant?

andie nachgeborenen andie_nachgeborenen at yahoo.com
Wed Sep 17 21:33:18 PDT 2008


Same old story, isn't it? Socialism for the rich, capitalism for the poor.

As for attitudes, you find no richer locales for Randroid enthusiasm for free markets than in areas that depend largely on the defense industry or the military for their survival.

--- On Wed, 9/17/08, Miles Jackson <cqmv at pdx.edu> wrote:


> From: Miles Jackson <cqmv at pdx.edu>
> Subject: [lbo-talk] Socialism ascendant?
> To: lbo-talk at lbo-talk.org
> Date: Wednesday, September 17, 2008, 11:32 PM
> From the NYT on the AIG bailout, yesterday:
>
> Under the plan, the Fed will make a two-year loan to A.I.G.
> of up to $85
> billion and, in return, will receive warrants that can be
> converted into
> common stock giving the government nearly 80 percent
> ownership of the
> insurer, if the existing shareholders approve. All of the
> company’s
> assets are being pledged to secure the loan.
>
> Is this how socialism happens: not with a revolution but
> with--government bailouts? (--And this from the "free
> markets will
> solve everything" crowd? Yeah, I'm indulging in a
> little schadenfreude.)
>
> Miles
> ___________________________________
> http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk



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