can't help it. whenever I think of the $700billion+ bailout we are embarking on, I splutter fuck this and fuck that and the goddamned clusterfuck… expressive, but not very eloquent.
Glenn Greenwald wrote a great piece about the bailout at Salon.com 'tis highly recommended reading.
here's a bit:
“What is more intrinsically corrupt than allowing people to engage in high-reward/no-risk capitalism —
where they reap tens of millions of dollars and more every year while their reckless gambles
are paying off only to then have the Government shift their losses to the citizenry at large once
their schemes collapse? We’ve retroactively created a win-only system where the wealthiest
corporations and their shareholders are free to gamble for as long as they win and then force others
who have no upside to pay for their losses. Watching Wall St. erupt with an orgy of celebration on
Friday after it became clear the Government (i.e., you) would pay for their disaster was literally
nauseating, as the very people who wreaked this havoc are now being rewarded.”
where they reap tens of millions of dollars and more every year while their reckless gambles
are paying off only to then have the Government shift their losses to the citizenry at large once
their schemes collapse? We’ve retroactively created a win-only system where the wealthiest
corporations and their shareholders are free to gamble for as long as they win and then force others
who have no upside to pay for their losses. Watching Wall St. erupt with an orgy of celebration on
Friday after it became clear the Government (i.e., you) would pay for their disaster was literally
nauseating, as the very people who wreaked this havoc are now being rewarded.”
preach on. high-reward/no-risk capitalism is exactly what is going on, and it is a mockery to what the free market is supposed to stand for.
the fuck.
