A socialist view on the bailout fail

[tama]

"This right-wing ideology is infused in many cases with racist overtones, scapegoating minority homebuyers, who were disproportionately victimized by subprime mortgages, for the crisis created by Wall Street’s parasitism.

In the end, the program of these opponents of the bailout is one of even more tax cuts for the rich and the destruction of what little remains of a social safety net in America, transferring all public monies to big business, albeit by a different route.

If these imbecilic demagogues are able to exploit the popular opposition that exists to the bailout, it is only because the leadership of the Democratic Party is so solidly unified behind the interests of finance capital and so indifferent to the concerns of the masses of working people. They are utterly incapable of offering the slightest substantive alternative to the demands of Wall Street.

A way out of the crisis—the deepest to confront American and world capitalism since the Great Depression of the 1930s—requires a rejection not only of the bailout, but of the entire framework in which the debate in Washington is being conducted."
http://wsws.org/articles/2008/sep2008/bail-s30.shtml

[Robbien]

1. It is hard to understand that the Democratic Party is supposed to be the party of the people

The GOPers are firmly on the right.
Dems come in just a smidge to the left of GOPers
Then there is the center. GOPers and Dems claim this territory but neither represent it.
Finally, there is the vast expanse of the left where the majority of Americans reside. They are not represented.

[unkachuck]

2. it's 5:30 am and I can't sleep....

....our Rube Goldberg political and economic systems are keeping me awake....but I'm reading you loud and clear....

"...requires a rejection not only of the bailout, but of the entire framework in which the debate in Washington is being conducted."

....I have no problem with the 'socialism' aspect of the bailout but I do have a problem with who are the recipients of this 'socialism'....these right-wing fascist asshole repugs oppose 'socialism' even when they and their buddies are the direct beneficiaries....

....still, we must oppose this bill....I'd rather be known as a 'tax and spend on the people Democrat' than a 'tax and give-away to wall street Democrat'....

[mia]

3. Agree: "Those directly responsible for this crisis, the Wall Street

executives who oversaw fraudulent forms of financial manipulation that generated multi-million-dollar compensation packages for themselves, must be held accountable. Their assets should be confiscated and they themselves should be subject to criminal prosecution.

[pberq]

4. Criminal prosecution

That is exactly what we should be talking about. Instead we have Dems trying to hand over a fortune of our tax dollars to these criminals.

[TBF]

5. Agreed.

Sometimes problems are systemic...

[Unvanguard]

6. Did they actually break the law? n/t