Bailout by another name.
By Cheryl, Monday, September 29, 2008In a recent post, Politico made a good point: the measure in Congress is not so much of a “Bail Out” as a Buy-in.
Of course they go on to elaborate how this package, if passed, could, as Rep. Jeb Harsarling (R-TX) is quoted saying, “...fundamentally change the role of government in the American free enterprise system. Once the government socializes losses, it will soon socialize profits.”
Personally, I would call it a Capitalist’s Dream Come True...
These people drove the banks into the ground, riding high on the profits of an inflated market, and on the backs of the people. Now, they will receive severence packages and bonuses rich enough to support the average American family for a lifetime in exchange for their resignations. Since their respective financial institutions are now broke as a result of their greed, the government is paying them off here... So again, they gret rich on the backs of the American people.
The winners here are the Capitalists. The losers are the middle class. Guess my opinion is not too far from Harsling’s after all.
That’s my take on it.
What would you call the “bailout“ if it went by another name?

















