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... its rugged capitalism when its in the corporate elites' interest which morphs into corporate socialism when things go sour.
"The head of the world's biggest bond fund, bemoaning the slow economic recovery, reignited debate Tuesday by publicly supporting a massive new refinance program currently roiling the mortgage bond market by describing it as a form of fiscal stimulus that wouldn't add to the deficit."
Here's the Bloomberg link on the PIMCO dude calling for FULL nationalization of housing finance. Corporate clowns mucked it up, now they want daddy to bail their asses out.
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Here's the Bloomberg link on the PIMCO dude calling for FULL nationalization of housing finance. Corporate clowns mucked it up, now they want daddy to bail their asses out.
So now the fat cats are shouting FOR nationalization?!
Where are all the Faux News & Friedman worshippers when ya need 'em?
It is well known, there are many Progressives within the Republican party.
GW Bush and his dad. John McCain. Lyndsey Graham just to name a few at the top.
It is well known, there are many Progressives within the Republican party.
GW Bush and his dad. John McCain. Lyndsey Graham just to name a few at the top.
None of those you listed, most especially Dumbya, are anywhere near progressive. Dumbya is pretty regressive, if anything else.
"This zealotry is a very recent phenomenon. In fact, the idea that rich people should bear a greater portion of the tax burden was first implemented over a century ago by a Republican president--Theodore Roosevelt."
Actually having a government bank is a great idea. That is what should have happened with the bailouts. Those banks, like BOA, should have been declared dead and put in the hands of the government to be ran as a public trust. Instead Obama just handed them over the cash which they used to become even bigger than they were (for example Chase taking over WaMu) thus insuring the next failure will be even more catastrophic for the economy and the nation and will cost us in the TRILLIONS to bail out. And there is no assurance that the Chinese will bail us out next time.
Your memory is very selective or maybe you have some sort of bias against President Obama. But the T.A.R.P. program was enacted and the money distributed to banks under the adminstration of President George W. Bush Jr.
Here's the Bloomberg link on the PIMCO dude calling for FULL nationalization of housing finance. Corporate clowns mucked it up, now they want daddy to bail their asses out.
"While we're waiting for the Cavalry to swoop down from Washington and save us -- something that could take a while -- we might consider setting up some state-owned banks. The Bank of North Dakota, currently the country's only state-owned bank, is very stable and very profitable, returning a 26% dividend to the state. A bank of that sort could be an attractive investment for all those state and local rainy day funds, pension funds and other local government funds looking for greater returns from the low-risk investments allowed by their legislative mandates. We need to set up some banks that serve the needs of the real economy rather than those of Wall Street bankers, brokers and their super-rich clients for yet more bonuses, bailouts and paper profits. State-owned banks could fill the role the Wall Street banks have declined to fill, providing an effective credit engine for state and local economies. "
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