Pandemic Socialism - Conflict of Interest (Kevin Ellis Commentary)

In which chronic liberal pundit Kevin Ellis finds common cause with Libertarians. When things go bad, why the big bailouts for big corporations?

My issue for this week is what happens when things go bad, on the way down. We are all for capitalism on the way up. But why aren’t we for capitalism when things go bad? After the 9-11 terror attacks, we spent ourselves in hoc for national security (war). In 2008, Treasury Secretary and former Goldman Sachs Chairman Henry Paulson got down on one knee and begged House Speaker Nancy Pelosi to bail out the Wall Street banks to save the country from the George W. Bush recession of historical proportions (unfettered capitalism).

https://www.kevinkellis.com/blog/pandemic-socialism



 

Comment Below... And find more stories on Water Cooler


Showing 4 reactions

Please check your e-mail for a link to activate your account.
  • Ivan st george
    commented 2020-12-20 09:24:37 -0500
    The dirty little secret is that this latest economic hit is self inflicted and without scientific basis.
    We now learn that hydroxychloroquin is in fact ok to use and herd immunity is not a strategy but a biological fact, well gollee !!!
    amazing what an election will do to change the "news "media pundits daily dribble
  • Rob Roper
    commented 2020-12-17 11:56:43 -0500
    While I agree with the author about letting businesses fail and not using taxpayer money to bail out corporations such as banks and car companies, at the same time government should not be mandating how these companies do business. Let car companies build and sell cars their customers want, not what activists and politicians demand. Don’t mandate that banks make home loans to people who can’t pay them back in order to fulfill some social agenda and then act shocked when those investments and the institutions forced to make them crash.
  • David Flemming
    published this page in The News 2020-12-16 15:54:54 -0500
  • David Flemming
    published this page in The News 2020-12-16 15:51:37 -0500