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#1
03-12-2008, 07:01 PM
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Socialism for the Rich
The Federal Reserve announced on Wednesday a rescue package that it would put around $200 billion into banks and investment houses and allow them to put up risky home-loan packages as collateral.
Jim Rogers, CEO of Rogers Holdings, told CNBC Europe:"The Fed's move to accept risky collateral is not part of the central bank's business" If you bail out every investment bank that gets in trouble, that's not capitalism, that's socialism for the rich http://www.cnbc.com/id/23588079/site/14081545
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#2
03-12-2008, 07:29 PM
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Re: Socialism for the Rich
The United States of America is now a neoliberal corporate welfare state.
There is no free market, except the one that is regulated entirely in favor of corporate entities.
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#3
03-12-2008, 07:41 PM
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Re: Socialism for the Rich
jim rogers said a few years before that if started doing stuff like this, it's all over for american dominance economically.
you can't keep printing money, you can't keep bailing out banks.
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