Tuesday, October 14, 2008
A stark realization
I am finally able to sum up what has been going on economically and financially. The answer came to me after listening to NPR Senior New correspondent, Daniel Schoor's editorial yesterday: the privatization of gains and the socializing of losses. It is the classic heads I win, tails you lose. It is crisis capitialism. All of this is the result of Republican-enacted deregulation during the six years of a Republican administration and Republican Congress and the stewardship of Alan "I don't know if I really exist or not" Greenspan, the Ayn Rand disciple, who was left in place during the Clinton Administration, too. Add to this war profiteering and you have Bush-Cheney o' nomics. Many ships have been steered aground by so-called captains of industry. In the Navy such captains lose their ships and are asked to resign their commissions.