Is the Fannie/Freddie Bailout "Socialism"?

there are always a few true believers--who deserve credit for their consistency, if nothing else--ready to use the dreaded S-word. Free-market zealots like those at the libertarian Cato Institute are now arguing that the problem with Fannie and Freddie is that they were "socialist from the start," while others are applying the term to the federal takeover. Republican Sen. Jim Bunning of Kentucky said that when he first heard about the bailout plan, "I ... Full Story »

Posted by Kaizar Campwala
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Posted by: Posted by Kaizar Campwala - Sep 11, 2008 - 12:00 PM PDT
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Deborah Plummer
4.8
by Deborah Plummer - Oct. 1, 2008

Republicans love "corporate socialism" for themselves but don't want "human socialism" for us as in health insurance/single payor health insurance. Mr. Ridgeway is an excellent writer but still needs to write with more clarity, for most of us, to understand how the Republicans have reaped the benefits of this system of government and when it turns sour, we/the middle class, pay the cost.

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Kaizar Campwala
4.0
by Kaizar Campwala - Oct. 1, 2008
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David Dresser
3.9
by David Dresser - Oct. 1, 2008

This country apparently believes in magic, both black and white. The magic of words more than anything so that "socialism" is black magic and "American exceptionalism" is white. One wonders if Senator Bunning even has a passport or has ever actually spent any time in France. The quote from Krugman was perfectly phrased. All in all, Ridgeway's piece is a good if limited picture of both the kerfuffle of financial juggling and the mysterious reactions of the American public.

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