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Reply #15: Cause they're in good w/the Bush Adm. [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
Marie26 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-29-08 01:51 PM
Response to Reply #13
15. Cause they're in good w/the Bush Adm.
There's been lots of reports that the Treasury Dept. is cherry-picking which banks it "bails out" & which it allows to fail based on how close the bank is to the Bush Adm. And in this article, a bank executive brags that the "bailout" money allows them to "buy out" other banks, while never offering the money in loans to consumers. All of this consolidates the wealth, both public & private, into the hands of a increasingly small capitalist elite - a capitalist elite connected to the government in power. Corporatism. Oligarchy. Economic feudalism.
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