Posted on 09/21/2008 9:59:45 AM PDT by vietvet67
Socialists, like Hugo Chavez in Venezuela or Indira Gandhi in India, are famous for nationalising the biggest corporations. But the US government has taken over three of its biggest corporations within two weeks. Has the US turned socialist?
American right-wingers moan that this is indeed the case. Meanwhile, Indian leftists are stunned at nationalisation in a country they view as pitilessly capitalist.
Two of the nationalised corporations, Fannie May and Freddie Mac, are by far the biggest mortgage lenders in the world, with $5 trillion of mortgages and loans on their books. That’s five times India’s GDP, to put their size in perspective. The third corporation, AIG, is the biggest insurance company in the world. No nationalisation in professedly socialist countries was ever so big.
Leftists suspect the US takeovers aim to rescue rich shareholders. Not so. The government will acquire 79.9% of the shares of these companies at virtually zero cost, pushing down the share price close to zero. So, rich shareholders have been wiped out, and the bosses of all three corporations have been sacked.
This is not a rescue of the rich. It is a rescue of ordinary people who need mortgages and a functioning housing market, which would have collapsed had Fannie May and Freddie Mac gone bust. The takeover of AIG will save millions of insurance policy holders from losing their coverage and annuities. The takeovers aim to prevent financial panic from spreading and dragging down the whole economy, as happened in the Great Depression of the 1930s.
The usual procedure in a capitalist welfare state is to let mismanaged companies go bust, penalising the shareholders and managers, and then provide safety nets to those adversely affected.
(Excerpt) Read more at timesofindia.indiatimes.com ...
Nevertheless, our political/economic institutions are but a mere whisper from socialist. Way too many of us demand that the federal government see to it that all of life’s necessities, and amenities, be provided, just as Franklin D. Roosevelt intended.
America began leaning fascissocialist from the time of the “Democrats” late 1920s takeover of the congress and became totally fasciSSocialist from the minute the richly Soviet-agent-larded “administration” of the traitor, Franklin Delano Roosevelt, began its ruthless and relentless communization and politicization of every American institution and of every aspect of American life.
As the direct consequence of the “Democratic”/Roosevelt perfidy, there now exists in Washington DC a peopled by the fifth and sixth generation permanent parasites elitist ruling class that exists entirely separate from we the American People and has a hostile colony wherever an outpost of the feral gummint exists. Including on every tyrannical rule-by-fiat “judicial” bench and in every far flung consulate and embassy, where the carefully cloned foreigner-servicing representatives of Foggy Bottom’s bastard offspring of the Soviet agent Alger Hiss et al misrepresent America’s positions and subvert America’s interests to and throughout the world.
Any chance that America might ever turn back from its fasciSSocialistization was probably lost along with the adaptation of the corrupt traitor, L B Johnson’s “Great Society.” (And of the Harry Truman initiated “Cold War” habit that began the regular transfer of Billions of feral gummint Dollars to the war-profiteer Kennedy Crime Family and Johnson et al-owned military-industrial complex)
More than ten years ago, I often observed on these boards that neither of the recidivist, treasonous, lying, looting, thieving, mass-murdering co-serial rapist Billy-Bubbah Blythe “Clintons” nor any of their similarly disposed Crime Family cohort was an original or had an original thought. As, in his time, was the execrable Jimmy Carter and was his every gang member, every last one of the Blythe “Cli’tons’” evil bast**d cohorts was then and is now but the inevitable product of the spiraling into the fasciSSocialist cronyism set in progress by the traitor, Roosevelt and by his effectively Moscow-directed “Democratic” party enablers.
One thing has changed, though, during these past ten years or so.
Back then I naively believed that FRee Republic’s then single-minded supporters were both resolved to and had the balls to help restore our beloved fraternal republic.
Fat hope.
Brian Richard Allen
Los Angeles - Califobamacated 90028
Yes. Second.
Do Bears...?
Naively believed? I think frantically hoped describes it better.
Socialism always tends toward communism. They are basically the same thing. Socialism is just immature communism.
The big question, why has the GOP supported Bush and now McCain, who are both dedicated to advancing socialism in the U.S.? Does anyone really believe 20 million poor Mexicans will not vote for MORE socialism when they become citizens?
>The big question, why has the GOP supported Bush and now McCain, who are both dedicated to advancing socialism in the U.S.?
The Democratic and Republican Parties have become merely opposite wings of the same bird,and it’s the American people who are getting the bird as our elected officials serve their corporate masters and the special interest groups that dominate both parties.
Lou Dobbs
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