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Monday, January 12

Corporate socialism

Remember that $700 billion corporate bailout? Seems that, A/ no one's accounting for it - no one - and B/ it's being spent to do stuff like boost market position. And the auto industry bailout? The fine print forbids strikes.

This - Bush's legacy - is entirely the source for the global economic crisis and begs a lot of questions about how the UK bailout is being spent.

Rachel Maddow interviewing David Cay Johnston,

"Ninety percent of American's incomes today are smaller than they were in 1973."

"Nothing is being done today, with the initial bailout money, to affect foreclosures. That's what congress said should be done with the money, but that has not been done. The foreclosure crisis is affecting everyone's home value and is at the center of this economic crisis."


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