Naomi ("Shock Doctrine") Klein is right... this is about a massive transfer of wealth to Ultra Rich

[Blackhatjack]

Every time there is a financial disaster, that is the opportunity to push the rightwing agenda to shut down social programs 'because we cannot afford it.'

And every time there is a massive 'devaluation' of assets, hard and soft, there are the wealthy upper crust who swoop down and scoop them up for pennies on the dollar -- leaving all those institutional investors and retirees and small investors to lament "we have lost a large part of our investments and little to show for it."

Klein said on Bill Mahre tonight that the Bushies wanted the financial disaster so that they could benefit financially from it. I totally agree....

[grannylib]

1. Class warfare. Rich against the poor, and the rich have won.

[evlbstrd]

2. If you've read "Shock Doctrine"

You already know that.

[AZBlue]

3. Was it all intentional?

I'm wondering if it was but I don't know the financial market very well.

[ContinentalOp]

4. No, no, it was all unavoidable. And there's no way we can afford universal health care now...

so Obama should just give that up.

Don't you read DU?

:eyes:

[gravity]

5. More like a massive failure of the right

Don't give these fools any credit. They are incompetent in running the economy.

There was no wealthy to come in and sweep in and pick up the assets, which is why they failed in the first place. The government was the one who had to save them because they are the only ones with enough money to do it. There were no winners in this crisis.

The one thing the Right did manage to do is prove that their Lassiaz faire style of running the economy does not work. This is an end of an era.

[Blackhatjack]

6. As details begin to leak out, the proposed 'bailout' is a scheme...

... to transfer taxpayer $$ to Wall Street Entities with little to nothing in return for the taxpayers.

Who steps in and rescues a company by taking all their debt off their hands and then does not demand ownership interest or even a say in how they continue to do business?

Answer: Bush buddies expect this!

[dansolo]

7. It is their Plan B since SS privatization failed

This is going to serve the same purpose, artifically propping up the stock market with other people's money.