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Reply #120: Uh, that's what I said [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 Thu Oct-30-08 10:14 AM
Response to Reply #103
120. Uh, that's what I said
Edited on Thu Oct-30-08 10:19 AM by Marie26
Maybe I wasn't being clear? They're funding Bushco. crony banks, deliberately NOT funding non-Bush crony banks, which become undercapitalized & overleveraged & easier for Bushco crony banks to snap up w/the bailout funds. All of that consolidates the private bank wealth into the hands of a smaller capitalist elite, while the bailout effectively also funnels $700 billion dollars of public funds to that same capitalist elite. So the crony banks get the public money, and the private money, in one step. They hoard the massive amounts of money & don't issue loans. Meanwhile, the federal gov. cuts public jobs because it's run out of money. So the middle-class has lost jobs, lost credit & lost access to loans, while the top .001% gets even more wealth funneled upward to them. That's corpratism in action, gov. used to benefit a corporate oligarchy, & create even more class stratification. It was a way of robbing from the poor public to give to the rich, connected capitalists & most Americans knew it.
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