THE SPINE OCTOBER 13, 2008
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I mean the $89 billion bailout of AIG (plus some out of other baskets here
and there).
The FT reports this morning that, despite the huge and unprecedented
bailout by the feds, the humungous insurance group will continue its
spending on lobbying the feds. So the American tax-payer will be not
subsidizing, but actually shelling out millions of dollars to finance AIG's
efforts to drag more cash out of the system -and perhaps also to have
another half million dollar retreat at a swish and swank resort as it did
right after receiving its bundle of cash relief.
Are there no limits?
5 comments
Isn't lobbying what Washington is all about? Why should we be surprised that when we reward lobbying we beget more lobbying. BF Skinner would have understood this, if Marty does not.
"Are there no limits?" No, not yet. State socialism and cronyism go hand in hand, in Hitler's Germany, Stalin's Russia, present-day China. Why not here too?
The founding fathers recognized that if you wanted to limit corruption, you had to limit government. Trillion-dollar blank checks, however justified, do not conduce to limited government.
- bmichell
October 14, 2008 at 5:30am
Hey bmichell, easy with state socialism - what you say is a bald lie. This is not state socialism, it's monopolist capitalism, robber-baron capitalism.
If you want to see state socialism, go and visit France. There socialism works - at least the government gives something for the control, such as universal health care and public education. If only the Americans had French health care!
Socialism may be undesirable because of too much control, but at least it gives PEOPLE something. The Republican US version is a combination of late feudalism and early capitalism: it takes the citizens' money and gives to the RICH.
- sleepyavl
October 14, 2008 at 10:54am
Well, sleepy, more and more often I find myself in complete agreement with you, although your tone is still a little strong for my taste.
- roidubouloi
October 14, 2008 at 2:42pm
"Well, sleepy, more and more often I find myself in complete agreement with you"
The same in my case.
And I even like the style.
- luispc
October 14, 2008 at 3:05pm
Thank you guys. I read your posts with interest, and sometimes in agreement too - though I just rarely have time to comment these days, compared to some months ago (but that's just as well).
- sleepyavl
October 15, 2008 at 1:20am