Monday, May 19, 2014

Socialism for Capital, Capitalism for Labor

Between people and banks, I chose banks. You call me
inhumane. What's up with that?

Geithner got it wrong because his priorities were wrong. He came from the New York Fed. What did we expect? I don't know what Paul Krugman expected, but he doesn't like what we got:
In the end, the story of economic policy since 2008 has been that of a remarkable double standard. Bad loans always involve mistakes on both sides — if borrowers were irresponsible, so were the people who lent them money. But when crisis came, bankers were held harmless for their errors while families paid full price.
And refusing to help families in debt, it turns out, wasn’t just unfair; it was bad economics. Wall Street is back, but America isn’t, and the double standard is the main reason.
And Geithner worked for the Democrats. If workers think they should lean Republican, they should check out which side the GOP is on.

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