U.S. takes over 80 percent of AIG Insurance — socialism by default marches on!
September 16th, 2008 at 09:00pm Chuck Sweeny
The triumphant march of socialism continued Tuesday as the government loaned failing insurance giant AIG $85 billion in return for an 80 percent stake in the company. Congratulations, comrades!
This is on top of the nationalization last week of Fannie Mae and Freddie Mac last week, which puts us on the hook for $5.4 trillion worth of mortgage debt.
This is socialism by default, however. We deregulated markets and told the big Wall Street financial houses to play in the sand box. But with no rules, they tossed out all the sand — and now you and me have to put back the sand. Of course, we can’t find the sand — we’ll have to buy some sand to put back in the sand box.
Entry Filed under: Socialism's march!
4 Comments Add your own
1. Milton Waddams | September 17th, 2008 at 12:22 pm
So they are against national healthcare and insurance for all, so they buy an insurance company?
2. Chuck Sweeny | September 17th, 2008 at 2:08 pm
Mr. Waddams,
AIG is not a health insurance company. Apparently much of the Rockford readership community does not understand my sense of irony. IT’s to be socialism for the well-connected companies that get in trouble, but it’s not the kind of socialism that offers any benefits to hard working folks. No national health care, for instance, to go with those national mortages we now own.
3. John Biltmore | September 17th, 2008 at 4:10 pm
Chuck, I can’t speak for the readership, only for myself. I do not understand your sense of irony, and a lot more…your sense of humor, this post and your continued prattle about socialism. Perhaps you could suggest what the best course of action would have been in this instance?
4. Sparky | October 12th, 2008 at 8:06 am
LOL, Chuck talks about Government bailouts being socialism and in the same breath believes in national health insurance. That’s another facet of socialism!!! Ask people in Canada and the UK how great their national health system is. I have, and they say it’s terrible. a friend in Canada was told he may have pancreatic cancer, which kills you in 3 or 4 months. He was also told to diagnose it, he needed an MRI. But there’s a 4 month waiting list for MRI’s in Canada. He would have been dead by the time his appointment came.
Socialism 101
http://www.americanthinker.com/2008/09/barack_obama_and_the_strategy.html
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