Re: bail-out of AIG by FRB using a loan of tax dollars 'The Fed said in return for the loan, the government will receive a 79.9 per cent equity stake in AIG.' Does this sound like socialism or communism to you? Why or why not?
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Grandma Roses - my avatar is my real dog
ANSWERS: 3
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no, sounds like pragmatism to me
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It is neither, because it is an ad-hoc response to events, not a thought out policy, part of a planned political program. There is no element of compulsion about it: AIG *wants* this to happen to save its life. Socialism an communism say that companies - certain companies in the socialist case, all in the communist case - must be bought, willing or not, because political theory says so. The US government has not gone round taking over viable companies that didn't want it - it has gone round giving money to desperate cases and (capitalistically) demanding something in return instead of making it a handout, as socialists might have done.
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I just submitted the following letter to the editor to our local rag of a newspaper. FEDS billion dollar bailout. What will it take to make the American sheep standup and take action against this corrupt and insidious administration that calls itself "our government"? I cannot believe what we have allowed this to happen to this once great country, we are more concerned about Hollywood than Realitywood. We need to reorganize our local militia, stop filing federal taxes and start acting in collaborative manner to put an end to this madness. The Romans did it, so can we.
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