Re: [Marxism] Campaign for a NO on bailout?

["Ruthless Critic of All that Exists" <ok.president+marxml@xxxxxxxxx>]

On Sun, Sep 21, 2008 at 5:52 PM, Jim Farmelant <farmelantj@xxxxxxxx> wrote:

>
> On Sun, 21 Sep 2008 10:18:07 -0400 "S. Artesian"
> <sartesian@xxxxxxxxxxxxx> writes:
> > I don't think you missed it, and I think such reluctance is more
> > likely to
> > come from the free-marketeering Republican side than the Dems.
>
> Well, conventional bourgeois economic theory would
> suggest that there is a major issue of moral hazard
> associated with the proposed bailout plan.  If
> the Federal government is going to save the hides
> of the very people who are responsible for the
> mess they made in the first place, what's to prevent
> them from continuing to make similarly reckless
> decisions in the future?  If these people are
> to be freed from the "discipline of the market:
> then who or what is going to impose discipline
> on them in the future


Leftists should demand that the money allotted to the bailout instead be
given to taxpayers as a larger "economic stimulus", and that government
forthwith take over the role that investment banks used to play until now
(i.e. nationalize).

The existing loans? Write them off and begin from scratch.

This would be a good "transitional' demand.
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