Mike Reagan Hammers the Dems/Wall Street Bailout

The Michael Reagan Show ^ | 09/19/2009 | Michael Reagan

[RadioCirca1970]

Mike Reagan declared the runaway government bailout of Wall Street at taxpayers expense a "ROBBERY!"

Los Angeles, Ca. - On his nationally syndicated radio show Reagan declared that the "Democrats Franklin Raines, Jim Johnson, Jamie Gorelick, Penny Pritzker, Chris Dodd and Barney Frank, are robbing the American taxpayer, and Republicans in the House and Senate had been tapped to drive the getaway car. In a political system where well paid Democrat operatives can enrich themselves at the expense of the American people with zero downside, there is no incentive to behave properly, when the taxpayer will bail you out. Enough is enough, bad decisions have consequences and those consequences ought to include indictments and jail time for those who cashed in."

[nmh]

What concerns me is how capitalists are EAGER to hitch a ride on the socialism train when THEY screwed up. Wall Street capitalists also don't want to be responsible for their actions. They are money than ecstatic to see YOU pay for their greedy mistakes.

[ThePythonicCow]

this is all a ruse to nationalize more of the economy

Not exactly. More like a ruse to socialize the debt and privatize the profits.

[TigersEye]

If you narrowly focus on just this specific event that is an accurate characterization. Now consider what will happen on down the road when other giant corporations default and threaten this fragile fix. Consider the push to nationalize all our health care as well. Big industry. Very big industry.

But apart from looking into the future I still don't get much comfort from compartmentalizing the situation as "socializing the debt and privatizing the profits." How is that essentially different from an openly socialist system where the little guy pays big taxes and the corporate bigwigs get rich?

[ThePythonicCow]

The little guy pays, and the bigwig gets rich ... we agree.

I misunderstood what you meant by the word "socialism". As advertised, we all live better. As practiced, the little guy pays, and the bigwig gets rich.

[TigersEye]

I suppose I meant it more specifically, as practiced. That the government is in control of who pays the debt and who benefits from largess. In essence government bypasses cause and effect and assigns accountability where they will. That to me is a signal feature of socialism or communism for that matter. Individual liberty and responsibility simply don’t exist. They are overridden by fiat decision making.

[ThePythonicCow]

Yup.