Privatizing Profits- Public Taxes For Bail-Out

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	Privatizing Profits- Public Taxes For Bail-Out

klippety

9-17-2008 8:47 PM

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klippety says:

The quasi take-over of private corporations thru government is equal to that National Socialist concept of Total Control without democratic accountability. The next step would be to suspend the constitution-For the better of all

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/92b29a60-4e54-4953-ac4f-090ffccf3858/ED23225B-43AB-4C45-B18D-3C62D6F8E5D3/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2008/09/18/business/18insure.html?_r=1&hp&oref=slogin" href="http://www.nytimes.com/2008/09/18/business/18insure.html?_r=1&hp&oref=slogin" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/09/18/business/18insure.html?_r=1&hp&oref=slogin"><NYT_HEADLINE type=" " version="1.0">
Fed Agrees to Lend A.I.G. $85 Billion to Head Off Crisis
</NYT_HEADLINE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/09/18/business/18insure.html?_r=1&hp&oref=slogin"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/www.nytimes.com/img/01AB529B-98B8-40C6-B415-37F44B08927A" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/09/18/business/18insure.html?_r=1&hp&oref=slogin">Fearing a financial crisis worldwide, the <A title="More articles about the Federal Reserve System." href="http://topics.nytimes.com/top/reference/timestopics/organizations/f/federal_reserve_system/index.html?inline=nyt-org">Federal Reserve</A> reversed course on Tuesday and agreed to an $85 billion bailout that would give the government control of the troubled insurance giant <A title="More information about American International Group" href="http://topics.nytimes.com/top/news/business/companies/american_international_group/index.html?inline=nyt-org">American International Group</A>.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/09/18/business/18insure.html?_r=1&hp&oref=slogin"><P>“It would have been a chain reaction,” said Uwe Reinhardt, a professor of economics at <A title="More articles about Princeton University." href="http://topics.nytimes.com/top/reference/timestopics/organizations/p/princeton_university/index.html?inline=nyt-org">Princeton University</A>. “The spillover effects could have been incredible.”</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/09/18/business/18insure.html?_r=1&hp&oref=slogin">“The secretary and the chairman of the Fed, two Bush appointees, came down here and said, ‘We’re from the government, we’re here to help them,’ ” Mr. Frank said. “I mean this is one more affirmation that the lack of regulation has caused serious problems. That the private market screwed itself up and they need the government to come help them unscrew it.”</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/09/18/business/18insure.html?_r=1&hp&oref=slogin">A major concern is that the A.I.G. rescue won’t be the last.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/09/18/business/18insure.html?_r=1&hp&oref=slogin">remain worried about the financial condition of major regional banks as well as that of <A title="More information about Washington Mutual Inc" href="http://topics.nytimes.com/top/news/business/companies/washington_mutual_inc/index.html?inline=nyt-org">Washington Mutual</A>, the nation’s largest thrift. </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/ED23225B-43AB-4C45-B18D-3C62D6F8E5D3/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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