9/24/2008

Comrade Bush and the banks

Comrade Bush and the banks

“After Comrade George W. Bush nationalized the two giants of the U.S. mortgage market, Freddie Mac and Fannie Mae, earlier this month, Anatole Kaletsky wrote in The Times of London that “the most capitalist administration ever, in the world’s most capitalist country, (has) decided to wipe out the private owners of its biggest and most important financial companies and replace them with state-appointed bureaucrats.” ”

“Wikipedia defines “nationalization” as “the act of taking an industry or assets into the public ownership of a national government. It is a central theme of certain brands of estate socialist policy that the means of production, distribution and exchange, should be owned by the state. . . . Nationalization may occur with or without compensation to the former owners. Without compensation, it is a case of expropriation.” “

1 comment:

generalpervaizmusharraf said...

This can't work in reality, that's what I think.

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