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Reply #34: it's all American socialism for the rich and debt for the rest of us.... [View All]

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mike_c Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-06-08 06:18 AM
Response to Reply #33
34. it's all American socialism for the rich and debt for the rest of us....
This is shameful-- I mean, I'm a socialist when you get right down to it, but this is not right. The astronomically wealthy get a safety net, and the rest of us get to hold it for them.
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  -Fannie Mae, Freddie Mac to be Put Under Federal Control, Sources Say JoeIsOneOfUs  Sep-05-08 08:33 PM   #0 
  - TAXPAYER BAILOUT INC.  Aqaba   Sep-05-08 08:34 PM   #1 
  - then the taxpayers should own it.  avaistheone1   Sep-05-08 08:58 PM   #11 
  - Oh we will, it will add enormously to our debt  Aqaba   Sep-05-08 08:58 PM   #12 
     - I don't think so. Protecting "Preferred Shareholders" means protecting, essentially, banks:  Ghost Dog   Sep-06-08 08:15 AM   #48 
  - The investors should lose their shirt and the companies should be divided ....  BearSquirrel2   Sep-06-08 11:31 AM   #57 
     - Excellent Post!  Odin2005   Sep-06-08 09:11 PM   #61 
     - How many millions of shares of these stocks  Thothmes   Sep-07-08 10:19 AM   #65 
        - Pension money should not be in investments that risky (n/t)  harun   Sep-08-08 06:54 AM   #70 
           - I fully agree, but up to a couple of years ago  Thothmes   Sep-08-08 07:07 AM   #72 
  - Let's see what happens to those huge salaries and luxury cafeterias.  MookieWilson   Sep-05-08 08:34 PM   #2 
  - why not the oil industry too  Prefer   Sep-05-08 08:35 PM   #3 
  - And Healthcare.  harun   Sep-08-08 06:55 AM   #71 
  - NYT link with summary  Kittycat   Sep-05-08 08:35 PM   #4 
  - thanks, more sources is always better. So much for that fundamentally sound economy. nt  JoeIsOneOfUs   Sep-05-08 08:37 PM   #6 
  - Funny  Mojorabbit   Sep-05-08 09:53 PM   #23 
  - shit  jhain   Sep-05-08 08:36 PM   #5 
  - Why don't they bail ME out  Benevolent   Sep-05-08 08:42 PM   #7 
  - apparently we get to wait for the invisible hand of the free market  JoeIsOneOfUs   Sep-05-08 08:46 PM   #8 
  - The free hand of the market...  not fooled   Sep-06-08 01:13 AM   #31 
  - because you are not "too big to fail" so quit whining  central scrutinizer   Sep-06-08 08:39 PM   #60 
  - Another thread on Friday night bank failure:  JoeIsOneOfUs   Sep-05-08 08:51 PM   #9 
  - So they are going to cave to the Chinese demands and make us pay the tab.  lonestarnot   Sep-05-08 08:55 PM   #10 
  - Goodbye, America  Finnfan   Sep-05-08 09:00 PM   #13 
  - Here's the link to a Bloomberg story about it:  marmar   Sep-05-08 09:01 PM   #14 
  - thanks - that one says they'll brief Obama and I have a ?...  JoeIsOneOfUs   Sep-05-08 09:06 PM   #17 
  - Who's Going to Brief Sarah Palin?  Yavin4   Sep-05-08 10:10 PM   #26 
  - Short answer: The ordinary Jane and Joe, via the open-to-the-public  Ghost Dog   Sep-06-08 08:44 AM   #50 
  - Thanks. I'd also like to comment:  Ghost Dog   Sep-06-08 08:41 AM   #49 
  - K&R  OhioChick   Sep-05-08 09:02 PM   #15 
  - SIIIIIIGGGGHHHH . .. . . . .  HughBeaumont   Sep-05-08 09:03 PM   #16 
  - Classic TT.  RUMMYisFROSTED   Sep-05-08 09:26 PM   #18 
  - This is the "socializing risk" part of....  cottonseed   Sep-05-08 09:28 PM   #19 
  - exactly. nt  JoeIsOneOfUs   Sep-05-08 09:34 PM   #20 
  - It's Failure Friday! Yipee! Houses are on the house!  Neshanic   Sep-05-08 09:36 PM   #21 
  - This ticks me off.  rainman99   Sep-05-08 09:37 PM   #22 
  - "Why do we have to bail everyone out? "  Yavin4   Sep-05-08 10:06 PM   #25 
  - What's Sarah Palin's Position on This?  Yavin4   Sep-05-08 10:05 PM   #24 
  - Didn't you get the memo? They don't do  Ghost Dog   Sep-06-08 08:56 AM   #51 
     - Sort of Like How Subprime Lenders Didn't Think That Income Mattered  Yavin4   Sep-06-08 09:05 AM   #54 
  - well there is a REAL reason to do this sort of thing on a weekend.  unblock   Sep-05-08 10:14 PM   #27 
  - But observe: Markets are _not_ closed for the privileged insiders  Ghost Dog   Sep-06-08 09:00 AM   #52 
  - true, but both parties are remarkably well informed.  unblock   Sep-06-08 04:00 PM   #59 
  - I guess that makes sense. nt  JoeIsOneOfUs   Sep-06-08 09:28 AM   #56 
  - "The value of the company's common stock would be diluted  SimpleTrend   Sep-05-08 10:18 PM   #28 
  - Privatize profits, socialize losses.  swag   Sep-05-08 11:03 PM   #29 
  - Big K & R !!!  WillyT   Sep-06-08 12:37 AM   #30 
  - Sorry, but legally go for bankruptcy then... Why let the investors keep their stock?  JCMach1   Sep-06-08 01:37 AM   #32 
  - Fannie, Freddie to be seized  struggle4progress   Sep-06-08 06:18 AM   #33 
  - it's all American socialism for the rich and debt for the rest of us....  mike_c   Sep-06-08 06:18 AM   #34 
  - privatize the profits, socialize the losses ! the winner is Bill Gross (Pimco)  frankieT   Sep-06-08 06:18 AM   #36 
     - yup-- bondholders will walk away while stock holders lose everything...  mike_c   Sep-06-08 06:18 AM   #37 
  - I vote NO. WTF?  prodn2000   Sep-06-08 06:18 AM   #35 
  - Fuck Greenspan, fuck Bernanke  FarceOfNature   Sep-06-08 06:18 AM   #38 
  - DId anyone listen to that sociopath Mitt Romney's speech at the RNC?  girl gone mad   Sep-06-08 06:18 AM   #42 
  - Palin is just distraction.........  PDJane   Sep-06-08 06:18 AM   #39 
  - I agree. They give us a soap opera to watch while they finish looting the house.  hunter   Sep-07-08 11:06 AM   #66 
  - Wow.  Ghost Dog   Sep-06-08 06:18 AM   #40 
  - K&R  DeSwiss   Sep-06-08 06:18 AM   #41 
  - what happens to those companies that own some of the debt?  Solly Mack   Sep-06-08 06:18 AM   #43 
  - lose your home? tough shit  barbtries   Sep-06-08 06:18 AM   #44 
  - We need corporate welfare reform. This is sickening. eom  Mzztakable   Sep-06-08 06:18 AM   #45 
  - Reregulation. Republican champions of deregulation  Enthusiast   Sep-06-08 06:18 AM   #46 
  - Here, according to NYT, Preferred shareholders also take the hit.  Ghost Dog   Sep-06-08 09:03 AM   #53 
  - Free market my arse!  ozymandius   Sep-06-08 07:34 AM   #47 
  - Reuters, here:  Ghost Dog   Sep-06-08 09:11 AM   #55 
  - Hey apparently when you do bidness with China, you have to do as they say.  lonestarnot   Sep-06-08 11:54 AM   #58 
  - Ugh, this is "privatize the profits and socializing the losses" in all it's disgusting unglory.  Odin2005   Sep-06-08 09:18 PM   #62 
  - Kick  there-s a   Sep-06-08 09:35 PM   #63 
  - LET THEM FAIL!!! DON'T LET THE CEO'S POCKET AND KEEP THEIR SALARIES!!!  TankLV   Sep-07-08 09:32 AM   #64 
  - so much for 'personal responsibility'  Blue_Tires   Sep-07-08 11:11 AM   #67 
  - Everyone on DU needs to know when you are in a conversation with  harun   Sep-07-08 04:59 PM   #69 
  - If our gov't made a move this big to help the middle class or poor  harun   Sep-07-08 11:20 AM   #68 
 

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