Posted on 10/04/2008 7:57:55 AM PDT by Pontiac
If conservative Republicans are right and the $700 billion financial-sector rescue plan signals America's slide into socialism, you'd think Seth Dellinger would be celebrating.
"They can reorganize capitalism in different ways, and they will," says Mr. Dellinger, a college graduate turned working-class meat cutter. "But it is above all with a view toward continuing a system in which a small minority of super-rich families controls everything."
To Mr. Dellinger, 32, capitalism's crisis may be socialism's opportunity. He's making the case to anyone who will listen that the U.S. should adopt a Cuban-style government before the Bush administration and Congress empty the treasury in order to keep workers from storming the barricades. "What they're trying to do, above all, is prevent millions of workers from lining up outside banks all over the country, because they know they'll have to send troops and cops," says Mr. Dellinger. "That kind of scenario could unfold quicker than people think."
Rep. Jeb Hensarling, a conservative Texas Republican, warned his colleagues on the House floor Friday not to react in panic, jettison free-market principles and start along the "slippery slope to socialism."
"This is not socialism," says Sam Webb, national chairman of the Communist Party USA. "Bailing out the biggest financial corporations in the country is a far cry from what we have in mind when we think about socialism."
The left wing faces fissures of its own. The Socialist Workers, Mr. Dellinger's party, considers itself the true heir of Marx and Lenin and seeks to emulate the Cuban model of Fidel Castro. It argues that the Socialist Party is laboring under the false impression that capitalism can be reformed, and the Socialist Workers members scorn the American Communist Party as a cross between closet Stalinists and closet Democrats.
(Excerpt) Read more at online.wsj.com ...
We’re all lucky this bill passed. Now lets hope it works. Socialism, Communism and Fascism were all direct results of the failure to stop a crisis from becoming a catastrophe in 1929. Half the world gave up on capitalism because of it. That void was filled by socialism, communism and fascism and we spent the next 70 years fighting them.
You think allowing the Treasury to invest in mortgage bonds is socialism? Just watch what happens if this doesn’t work and hundreds of banks begin to fail. President Obama and Speaker Pelosi will have all the justification they need to enact a new “New Deal” and nationalize much of our economy.
They have to get Obama elected first.
It does only in the sense that if McCain wins, we have hope in 4 years with Palin and her crew. Don’t give up on McCain. It’s really Palin we’re after. And NObama we have to defeat. I understand your point about what happened in Congress, but you can’t just give up. Freedom isn’t free, and after yesterday, it really doesn’t exist. But, that said, don’t surrender.
Well there’s dancing in the streets in the People’s Republic of Cambridge, Mass. That’s usually a bad sign.
If you want to be a stickler you could go back to Teddy Roosevelt and his creation of the National Park System.
Well stated.
Legislation was the bait.
Capitalists had no choice but to NOT RED LINE the housing market. So now you have people that had NO BUISNESS giving out money and folks were eager to EXPLOIT that. Now, as responsible taxpayers , YOU get the BILL, as usual.
Depends on how long it takes to put the healt ins. and oil companies in the same position they put the banks.
The watwr is warming right up. Ahh so nice with the bailout plan feels just right.
It's socialism.
Sorry Seth but communism is quite well defined. (The Ten Planks of the Communist Manifesto)
5. Centralization of credit in the hands of the State, by means of a national bank with state capital and an exclusive monopoly.
That was obvious. It wasn't opaque, unclear, clouded.
They then started caterwauling that these notes were worthless. But, I didn't see them offering to take a penny on the dollar for them, because then they would have to book a loss.
If they did put them out, at a penny the notes would of been scooped up, sight unseen.
So, that's a lie.
Naturally this type of hit to those types of banks, would of required them to raise their rates to recover. So, now their other customers who would get the costs dumped on them started crying, why should we pay? But where could they go. Oh, that's right, Washington! Of course, the cause and solution to all are problems.
Just watched the Socialist Party Presidential candidate, Brian Moore, on Fox News with Neil Cavuto. Moore likes the plan. He seems to think this bailout-rescue is a big step towards socialism.
You know what, he’s right.
We’ve been baby stepping towards socialism for over a century.
We fight it as hard as we can but we are just bailing out the boat while some one else is shooting hole in it.
We’ve been baby stepping towards socialism for over a century.
We fight it as hard as we can but we are just bailing out the boat while some one else is shooting hole in it.
They are right. It is not socialism in the strict sense. It is corporatism, which is a collectivist cousin of socialism.
Fine, call it Fascism. Where the businesses stay in private hands, but the government has so much regulation and fingers in them they essentially control them.
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