[lbo-talk] Bailout Total: $29.616 Trillion Dollars: Government Accounting Office says $16 trillion

c b cb31450 at gmail.com
Mon Dec 12 09:02:25 PST 2011


What's the point of these dueling estimates, anyway? 1) They shouldn't have done it. 2) They should have done it but gotten something in return? 3) Everyone deserves socialism. 4) None of the above.

I'm for 2) and 3). Anyone else?

Doug

^^^^

CB: Ok lets not duel with the figures. OWS has put Wall Street back in the public dock for the bailout. I'd like to provide OWS with robust figures for how much the 1%/Wall Street got from the 99% in that World Historic Bank Heist, so that the 99% can make demands for compensation in terms of taxing the 1%/Wall Street and getting the money from Wall Street in other ways for the 1% . But even more, of course, provide rationale for public ownership of the finance capital monopoly's private property , a major step in number 3 above, establishing socialism, though I'm not sure we need to call it that quite yet. Let the rightwing call it that. (I'm not sure socialism would look that strange with all the pieces of it that have already been or are still in the world. viable. See below) The magnitude of the bank failure is important to demonstrate that Wall Street has mismanaged itself to the point that it can't be trusted with the Too-Big-To-Fail treasures. The larger amount the bailout/failure , the better the argument for public ownership of the banking system, the Iceland model.

What would socialism look like in the US. ?Would public ownership of too-big-to-fail corporations , "removal" of money from politics, healthcare system like Canada, France , and/or Britain , Federal, state and locals government as employer of last resort and zero unemployment,, universal free daycare, free education through college, miners receiving highest pay rate be sufficient conditions for socialism ? market socialism, our dash of NEP and socialism with Chinese characteristics (small businesses still privately owned) ? Also, abolition of nuclear weapons and withdrawal of all US troops from all over the world.

I know Mike B would add we have to abolish wage-labor



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