The Most Deceitful Form of Socialism

Discussion in 'Economy' started by BruceWayne, Aug 14, 2008.

  1. BruceWayne
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    BruceWayne Rookie

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    Thought this was interesting
    FT.com | Willem Buiter’s Maverecon | Time for comrade Paulson to pull the plug on the Fannie and Freddie charade

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    What we have in the United States is not free-market capitalism, but socialism for the wealthy; government policies designed to privatize the profit, but socialize the loss.
     
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  2. dilloduck
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    dilloduck Diamond Member

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  3. editec
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    editec Mr. Forgot-it-All

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    Right ON!
     
  4. gonegolfin
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    gonegolfin Member

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    They should not have existed in the first place. Phase them out.

    Brian
     
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  5. editec
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    editec Mr. Forgot-it-All

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    You know...I disagree.

    Had those mortgage bundling systems been

    1. private
    2. well regulated to prevent this kind of indifference to the true value of the mortgages

    It would have provided local banks the liquidity it needed not to tie up too much of its capital, AND given investors something worthwhile to invest in, too.

    Of course the best idea might better to have NOT CHANGED THE BANKING REGULATIONS to begin with.

    To keep savings banks in the business of lending locally, such that they would have been more careful about lending and knowledgable about who they were lending to, too.

    But then along came the rush to deregulate and here we are now.

    Thank you very much Mr. Reagan.
     
  6. lolly
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    lolly Rookie

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    What we have in the United States is not free-market capitalism, but socialism for the wealthy; government policies designed to privatize the profit, but socialize the loss.

    Bravo. Well said.
     
  7. editec
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    editec Mr. Forgot-it-All

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    This is the kind of things governments do which give socialism a bad name.

    As though socialism hasn't enough inherent problems when its run on the up and up.
     
  8. Tristan
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    Tristan Member

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    Damn skippy. Farking FDR and his New Deal crappola.


    The Injustice of "Doing Something" about Subprime
     
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  9. Paulie
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    Paulie Platinum Member

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  10. JuniorCitizen
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    JuniorCitizen Rookie

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    Yeah, listening to some youd think trying to make sure everyone shares in wealth is always an evil evil thing .......
     

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