Fw: Bloomberg.com: Worldwide

----- Original Message -----

Sent: Monday, March 10, 2008 4:21 PM

Subject: Re: Bloomberg.com: Worldwide

I saw Ralph Nader interviewed once. He told the story of when a boy his father asked if he understood why capitalism would always survive. The reason given was that socialism would always be there to bail it out. FDR and the WPA are a case in point. State bailouts of private companies that have ruined themselves through greed and mismanagement demonstrate the principle.

From when we were small tribes, it was understood that all industry was to benefit the group. Individual wealth would have been perceived as shameful and aberrant. But it speaks to either the goodness or stupidity of people that they're willing to bail out those who have striven to ruin the group for their own personal gain.

If you complain that the rich are picking your pocket, they tell you that you can't stop progress. Politicians say the bailouts are necessary to protect jobs. But when we bailed out Chrysler, those jobs went to robots. The need to be competitive is apparently more important than providing the community with jobs, goods and services. And when the market collapses, the idiots who collapsed it are given golden parachutes. But the ruling class has always taken care of its own, and never cared about the teeming masses. We tighten our belts and shoulder the burden. They toast the luck of their birth.

olcharlie will nap for food

On Mar 10, 2008, at 1:21 PM, larrylewis wrote:

This was rumored last week though without names. So it's a race to the bottom..And the fans are pressing against the fence. And the looser is! Though 'they' may have decided not to 'save' a couple of them and treat them now as culls. Save, of course means: 'too big to fail' and the tax payer foots the bill. But in a school of sharks they could be seen as chum for the other investment banks. They call this game free enterprise which means deregulation so everyone can make their own rules as they go. But if it gets tough going then they say they need government help. And it always ends up the same way..They wave the flag and we the tax payers bail them out of the hole they have dug because of greed. If anyone can tell me what is patriotic about a corporation i would be willing to listen. http://www.bloomberg.com/apps/news?pid=20601087&sid=aQoykcrKTOv8&refer=home