Wednesday, September 17, 2008

Privatized Profits, Socialized Loses; The Important Thing is to Protect the System As Is…

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American Everyman

Posted by willyloman on September 17, 2008

by Scott Creighton

I just saw an interviewwith George Soros on BBC talking about the collapse of Lehman Brothers and the bailout AIG. It was announced last night that the Fed is going to pony up $85 billion of our money present and future, to save the insurance giant from the end result of the greed and corruption of our unregulated markets. We have no money for healthcare, the President and his buddies fought the SCHIP Program tooth and nail, we can’t afford to take care of the First Responders from 9/11 that Christy Todd Whitman told the air down there was safe to breath, but they find $85 billion lying around to rescue an insurance company? When asked by the interviewer if this was the right thing to do, bailing them out, Soros replied that if it protects the financial system as it is, then yes, it is the right thing to do. That means, if it secures this corrupt criminal system where these leeches can continue to suck the life-blood out of this country without regulations or restrictions and they will always be assured that no matter how greedy they are, the tax-payer will always be there to bail them out… then this is great. Notice the smirk on his face when he says it.

They have been reluctant to put tax-payers money at risk, but if necessary they will do it.” Really? How many bailouts does this make so far? Ever heard of Fannie and Freddie? Military defense contract corruption? Two trillion missing on Sept. 10th 2001? Shit, he couldn’t even keep a straight face when he said it. And you know the AIG CEOs will pocket at least a collective $100 million at the end of the year in bonuses.

Source: http://willyloman.wordpress.com/2008/09/17/privatized-profits-socialized-loses/

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