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  • ilap2004 ilap2004 Nov 7, 2009 11:38 AM Flag

    South of the Border -- LOL

     

    I should add that what you're calling corporatism, which is kind of vague but seems to mean policies that are not enacted to serve the public interest but to benefit corporations, does not fall under free enterprise using the examples you're talking about.

    Nor does bailing out GM and Chrysler fall under free enterprise. Was that corporatism? Riddle me this Batman: Who was opposed to those bailouts - Democrats or Republicans? Of course they didn't benefit the stockholders or bondholders of those institutions - including ones who owned what they thought were legally binding secured bonds - it was a payoff to the UAW. So maybe since it was done as a UAW payoff, that doesn't count as corporatism. As I say, the definition seems to be vague. But it's unlikely the taxpayer will get all the money back that we put into those firms. It's hard to know now what the loss will be but it could be in the tens of billions. But that may not count as corporatism by your vague definition, so therefore, no big deal.

    Perusing Ratigan's commentary,

    "It was then that New York Federal Reserve Governor Tim Geithner decided to deliver 100 cents on the dollar, in secret no less, to pay off the counter parties to the world's largest (and still un-investigated) insurance fraud — AIG."

    I don't know what he means by fraud. What's he referring to?

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    • <Of course they didn't benefit the stockholders or bondholders of those institutions - including ones who owned what they thought were legally binding secured bonds - it was a payoff to the UAW.>

      This is the problem with you Ilap. You don't care about the what you care only about the who. And as long as you don't care about the what, the Republicans can do whatever they want and blame the Dems, and the Dems can do whatever they want and blame Republicans. The end result is the kind of crap government we have now.

      Does the UAW have the right to ask the government to lend auto companies money? No, that has to come from management with the board of director's approval.

      There was stupidity everywhere you looked with the auto bailout fiasco... on both sides of the aisle.

 
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