George Bush Becomes a Socialist

We live in a wonderfully ironic world. George W. Bush might have now nationalized more companies than Hugo Chavez. He certainly has nationalized companies with far greater worth. Fannie Mae, Freddie Mac and now AIG. Let alone the bailouts of Bear Stearns and all the rest.

Who knew George Bush would turn out to be such a socialist? You might even argue, communist. What happened, I thought the government was unnecessary? I thought "unfettered" markets would do their magic if you just deregulated them. Why are you fettering?

It turns out, all that talk about not needing big government flies right out the window when the shit hits the fan. Did we need government during Hurricane Katrina? Did we need the government during Sept. 11th? That was a day when we certainly could have used some more government help, like a president reading a briefing that said they were determined to attack us. And now, do we need the government when there is a financial meltdown?

You betcha. All of a sudden, the Republicans are huge advocates of big government coming to the rescue.

Why don't we toss a pair of bootstraps at AIG and see if that does the trick? Oh I see, that's just for poor and middle class people who need a little bit of help. They get the bootstraps and AIG gets the $85 billion government bailout.

So, now that we have basically bought these companies, what the hell are we going to do with them? Is the United States government going to run these companies indefinitely? Is the Bush administration saying that it's a terrible idea for the federal government to provide health insurance to everyone, but it's a great idea to provide other kinds of insurance? Remember, AIG is in the insurance business. Is health insurance the only kind of insurance the government shouldn't be involved in?

I'm for sensible government regulation of these industries, but I believe in capitalism. So, George Bush's socialism is wigging me out. He privatizes the army but socializes the mortgage industry. I understand how this came about, but does Bush have a plan? Do they have any idea how they are going to get out of this business or are they planning on running a quasi-socialist government from now on?

If other industries head south, will Bush nationalize those too? Who has more nationalized companies now -- the US or Russia?

Could George Bush's administration have been any more disastrous? He comes in promising to shrink the size of the government and let free markets reign supreme. He leaves while nationalizing more private companies than possibly any president in United States history. Could there be a clearer indication of the failure of conservative ideology?

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Comments

[glypee]

"What happened, I thought the government was unnecessary? I thought "unfettered" markets would do their magic if you just deregulated them. Why are you fettering?"

Come on. Do you honestly believe that the government was did not have a hand in the private sector. That is what led to this mess. Of course, "affordable housing" is such s great cause, I'm sure non of you mind chipping in a few tax dollars.

[zanzig]

You do all realise that there are a lot of people in this administration who are going to be looking for jobs come Jan 20 2009, don't you? Regardless of who wins the general election, there is still going to be a need for a cushy position at, say, a financial institution. If McCain is in, then so much the better; no need to find them all ambassadorships - send them out to AIG, Fannie Mae, et al.

[fiberoptimist]

So much for the "ownership" society. Remember all that B.S. from the 2004 Republi-con convention? It just goes to show you that all this talk about "free markets" is a bunch of hooey.

[arthur2008]

The only agenda George Bush has ever had (like the great deregulator John McCain) is the redistribution of wealth -- from the many to a tiny elite. Well, that and gaining control of Iraqi oil fields.

[LeRoyHolt]

If only he would nationalize the oil industry..­......

[garcia83]

i agree with you, but i would like to know what specific tax goes to the insurance of these banks? capital gains? income? sales? what tax? so that way i know how much of AIG i actually get to keep.

[ReasonIsMyReligion]

Instead of "a thousand points of light," there's hell ablaze on Wall St.

Heckuva job, junior.

[SamThornton]

Along with Bush's creation of a virtual police state, his economic shenanigans seem designed to recreate the Soviet Union in America. Looks like all the Republican mouth-breathers were actually fellow travelers, far more clever at subverting their country than any old-world Communist could possibly hope to be.

[CompetenceMatters]

Yup. The only difference is, one country did it without shame and without hiding their plan, the other did it while professing to be doing just the opposite. Both are wrong, but one is more despicable than the other.

[ReasonIsMyReligion]

Republicans:
Tough on nominally "socialized" medicine.
Soft on ACTUALLY socialized "free market" financial corporations.

To paraphrase double Nobel Prize winning economist Stiglitz:
If a company is "too big to (be allowed to) fail, it was too damn big to begin with.

[rainbowblue]

Explain to me how more funding for a better transit system is a waste of tax payers money when we have just used it to buy a company NO ONE in the private system wants. Explain to me how creating a system of universal health care is government going to far, when $85 billion dollars was just spent to buy AIG. I don't get it. There is absolutly no reason for anyone to vote Republican, other than they just hate people who don't look or act just like them. Economics can't be a reasonable excuse anymore, they just showed that their ideas have lead to major economic problems. If it's taxes, then I guess they won't have to worry about that anymore, since these companies falls will lead to white collar job loss, that is upper middle, to upper class jobs.

Republicans who troll here, why do believe free market policies work? In the last 100 years, you keep trying your ideas out and they keep failing. The country lands deeper in debt and the market goes down. I guess it's time to replace Hoovervilles with Bushvilles. For the last time, Laize fair doesn't work!!!!!! It is proven, greed will screw the market place before any corrections can take place.

[magen]

Those who ignore history are doomed to repeat it.

[GJMandinka]

The surprising thing to me is that "information management" has gotten so sophisticated, a great many Americans aren't even aware of this contradiction.
The United States thrives as a nation because it has a terrific mix of socialism and capitalism. Pure capitalism is a disaster and a joke. It's not a very big leap to say that FDR saved the US from the major labor mayhem and a massive rise in the popularity of communism that shook Europe by implementing social welfare programs and instituting labor standards. It's hard to argue that you have a compassionate and responsible society if the only way you "...promot­e the general welfare" is by providing services for business interests. Corporatists have spent a tremendous amount of money since the 40's marketing no taxes (no social services) and no regulations, and it has worked. Today, Americans commonly resent social support services as being in conflict with a philosophy of self-reliance and rugged individualism. The reality is that as our culture and economy become more complex, support services become more important. Can you imagine trying to go live in a tent and raise chickens and poach deer until we get our next job--like our grandparents did in the 30's? A little socialism is Necessary to maintain a capitalistic culture in a sustainable way. We should stop being afraid of that necessary socialism and stop applying concepts of social welfare only to needy corporations.

[marignymitch]

Calm down folks. BushCo is simply taking care of its family. You'd do the same for yours.

[dctackett]

I don't understand, it's going according to plan... profits are private, losses are public... did I miss something?­... maybe it just didn't happend the "right way" (not with a big spotlight on it)... but it still happened..­.

[garcia83]

i believe these corporations are subject to double taxation..­.but i highly doubt that covers the losses to the public.

[caterpol]

It's become painfully clear that "fiscal conservative" and "free market system" are oxymorons.

[oakdiggity]

Booyah! Powerfully said. Thanks for breaking it down, Cenk.