Socialism for Bankers

 

I find it very frightening to hear commentators assuming that there will be a steep decline in most Americans’ standard of living.

I also find it puzzling that so many will readily accept a government intervention on behalf of financial institutions; but find such interventions  for individuals ideologically unacceptable.  What we have is “socialism for banks and financial institutions” and a “free market” for those who would lose their homes.  Rather than refinance the homeowner who can’t make his/her upwardly adjusted mortgage payment, the government will wait until the little person defaults and than, and only then, intervene to “save the system”. Its not at all about losing your house.  The crisis is about the counting house losses.
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One Response to “Socialism for Bankers”

  1. culturepress Says:

    “Socialism for banks and financial institutions” – this is brilliant; I couldn’t have said it better. This is exactly what I was talking about in a debate I was pulled into last week with a Republican couple. If the government/taxpayers will not fund humanitarian interests, is it okay for the government to fund the interests of their corporate cronies? Is that not vaguely a form of socialism but also blatantly a form of corruption and corporatism? Thanks for posting this!

    http://culturepress.wordpress.com/


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