Saturday, August 18, 2007
The corporate capitalists’ knees are shaking a bit. Their manipulation of the sub-prime housing market has led to a spreading credit crunch and liquidity crisis. So it is time for them to call on Uncle Sam – the all purpose bailout man.
...He was talking about the Big Boys. Today, we call these self-paying CEOs “corporate capitalists.”
More and more, corporate capitalists inside and beyond the financial markets do not want to behave as capitalists—willing to take the losses along with the profits. They want Washington, D.C., meaning you the taxpayers, to pay for their facilities (as with big time sports stadiums) or take on their losses because they believe that they are too big to be allowed to fail (as with large banks or industrial companies).
These corporate capitalists should be exposed when they always say that government is the problem whenever it moves to help the little guys with health and safety regulations, for example, but government is wonderful when the bureaucrats are summoned to perform missions to rescue them