Wednesday, October 1, 2008
Taxpayers everywhere should be asking the same question: why the hell should we be supporting them?
Bailing out banks seems unprecedented, but the US government's form in subsidising big business is well established By George Monbiot 30/09/08 "The Guardian" -- - According to Senator Jim Bunning, the proposal to purchase $700bn of dodgy debt by the US government was "financial socialism, it is un-American". The economics professor Nouriel Roubini called George Bush, Henry Paulson and Ben Bernanke "a troika of Bolsheviks who turned the USA into the United Socialist State Republic of America". Bill Perkins, the venture capitalist who took out an ad in the New York Times attacking the plan, called it "trickle-down communism". They are wrong.