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Republicans hate Socialism

Originally published at BunkBlog. You can comment here or there.

July 11th, 2008 - US Government seizes control of IndyMac, largest S&L in Los Angeles and 7th largest mortgage company in the USA.

September 7th, 2008 - US Government acquires control of Fannie Mae and Freddie Mac, two largest mortgage backers in the USA.

September 16th, 2008 - US Government acquires 80% control of AIG, largest insurance company in the USA.


( 6 comments — Leave a comment )
Sep. 17th, 2008 02:22 pm (UTC)
are you conspiracy theorizing gary?? is that what you're telling me? the government now has a plot to take over the world through legal seizure of private economic infrastructure?

Sep. 17th, 2008 04:53 pm (UTC)
I'm not at all a fan of conspiracy theories - they are a silly attempt to force a pattern one finds more entertaining on usually random events.

What I find amusing here is that the GOP is the party that goes into hysterics at the idea of socialized anything, and yet...

I have to find something amusing, while I await the next contract that should show up before I have to file for unemployment (followed closely by bankruptcy, it seems), and while the entire financial system in the USA looks to be crumbling.

For further amusement, notice that income inequality is at its highest since 1928, unemployment is at a 5-year high, 90,000 houses were lost to foreclosure in August, and one of the contenders for President thinks the fundamentals are strong. And then redefines "fundamental" to mean something no dictionary would agree with.

Gotta laugh.
Sep. 17th, 2008 04:48 pm (UTC)
I know, my irony meter went off too... but you know that since the Dems have a bare majority in Congress, that they will be the ones who get blamed for this by the Republicans, as soon as the mess is cleaned up.

And I'd like to know who they think is going to pay for this? The war isn't bad enough, their insane tax cuts aren't bad enough, but let's throw in some failing industries, too. I feel like I'm looking at a carnival mirror image of 1929.
Sep. 17th, 2008 04:55 pm (UTC)
If we deregulate every aspect of the economy, it will end well. Everyone knows this, because it worked so well for President Hoover's administration.

I figure McCain's theme song should be "Happy Days Are Here Again" just to cement his image as a maverick.
Sep. 17th, 2008 04:57 pm (UTC)
Yeah, you'd think that McCain would remember Hoover. :)
Sep. 17th, 2008 06:12 pm (UTC)
oh for christ's sake people! stop blaming the economy on the republicans!!

who's fault is it really? ben bernanke and christopher cox. granted these men were both appointed by bush, but bush was appointed by the american people so we're just as much at fault for this as he is...

i think we should all stop asking ourselves 'what would jesus do?' or 'what would obama do?' and put the focus where focus here is due...

what would alan greenspan do?? not supply a government bailout to the private sector. do something about the interest rates. maybe hand out a few loan guarantees to companies willing to carry aig until it can sell some it's less liquid assets.

personally...i think we need another world war. that always seems to strengthen our economy!! ;)
( 6 comments — Leave a comment )