Posted on 11/25/2008 5:41:01 AM PST by St. Louis Conservative
Businesses that politicians deem vital to the national interest aren't being allowed to fail in America today, and the bigger they are, the more help they get from the government. So it's not much of a surprise that the fine points of yet another bailout package are being worked out behind closed doors, this time for Citigroup.
Again, not surprisingly, the latest recipient of government largess is a big donor to political candidates and parties. It's the 15th largest corporate giver, according to the Center for Responsive Politics, donating $25.1 million since 1989 in roughly even portions to the two parties. When Citigroup begged for taxpayer help, the Bush administration and congressional leaders took the call. Don't expect a policy change from President-elect Obama's incoming Secretary of Bailouts, Tim Geithner, and Larry Summers, soon to be head of the National Corporate Welfare Council.
It's just the latest in a never-ending series of bailouts that Chicken Little commentators and status quo fetishists say we simply must have -- or else. Companies aren't even being asked to submit to the minor indignity of a bankruptcy proceeding before lawmakers rush in with 18-wheelers full of cash. It's easier just to fork over taxpayer money. Forget Joseph Schumpeter's "creative destruction." Today the rule is survival of the un-fittest.
(Excerpt) Read more at spectator.org ...
Left Wing = Liberal Globalist
That is why Citi and others get bailouts...while others do not
Remember it is Jorge Bush pushing this.... ol Jorge wants to have a legacy of killing the conservative movement and pushing in the new world order.
It is better to vote our conscience than to be blinded by our fear.
Government (Democrats) give them money, the execs cut a small percentage back to the Democrats.
Burns my ass, and brother I’ve got a BIG ass! We’ve paid our CitiMortgage consistently for the last 12 years on a 15 fixed. Almost done. Never missed a payment. Why the hell do I have to pay for a bunch of stupid business decisions made by a bunch of leftists????? Man, just give me a gun and point me in their direction...................
Well Citi is in bed witht the Drats and the Saudi’s...how convient that azzO Paulsen just throws other people’s money at them.
Thanks George(Paulie your doing a great job)Bush.
Again, not surprisingly, the latest recipient of government largess is a big donor to political candidates and parties.
Any questions?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.