Remember this phrase: "Privatized profit, socialized risk"

[Rabrrrrrr]

Heard it a few years ago (and it's being used a lot recently, as well), and certainly applies to the big bail out - when the companies are screaming in cash, they aren't asking the government if they want a bunch of it.

But when the shit hits the fan, they want the government (that's you and me) to take all the risk.

Yell that phrase at all your fundy Republican asshole friends/acquaintances/debate nemeses.

[billyskank]

1. Also

Over here in Britain, the government "saved" one bank (Halifax Bank of Scotland) by merging it with Lloyds TSB. The whole thing was done in a few days.

The problem? Ordinarily, this merger would not be allowed because it breaks anti-trust rules: the bank is now too big.

Read "The Shock Doctrine"? These fuckers use crises to push through stuff that ordinarily wouldn't be allowed to happen. This merger is one such example.

Watch your government like a hawk. This bailout whereby you taxpayers buy all the bad mortgages, this is only the start. The only way they'll not do it is if you as a people say "hell no!"

[Critters2]

4. I second the recommendation of _The Shock Doctrine_.

Notice how we were told last Thursday and Friday that, if this bailout weren't approved over the weekend, it'd be Armageddon?! Well, it's Tuesday, and I just cashed a work reimbursement check for $130. The bank was open, and they had no problem coming up with the money. What's with that?

[billyskank]

5. That's exactly it.

"We must do all this stuff that we've never been allowed to do before, because the world will end if we don't!"

No it won't.

[lizziegrace]

2. Rep. Marcy Kaptur (D-Ohio) used that phrase in her speech

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x195933

She's my new hero. :)

[redqueen]

3. I stupidly thought most knew that phrase...

my ex-republican ex-husband called yesterday afternoon all giddy about it. I could have sworn I'd mentioned it more than a few times over the years.