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wtf is wrong with the right?

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Custard

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Re: wtf is wrong with the right?
« Reply #8970 on: July 01, 2026, 10:32:24 PM »
Quote from: illiniray on July 01, 2026, 07:58:46 PM
The problem is the bank bailouts aren't done to benefit the poor and working class. They are done protect the wealthy, an example of socializing risks and privatizing profits.

More an example of state or crony capitalism.

Correct.
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alum74

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Re: wtf is wrong with the right?
« Reply #8971 on: July 01, 2026, 11:48:28 PM »
Quote from: illiniray on July 01, 2026, 07:58:46 PM
The problem is the bank bailouts aren't done to benefit the poor and working class. They are done protect the wealthy, an example of socializing risks and privatizing profits.

More an example of state or crony capitalism.

During the 2008 financial crisis,  conservative commentators and some Republican lawmakers characterized the bank bailouts as "socialism for Wall Street," "corporate socialism," or "government socialism."

Similar to earlier criticism of Medicare and Social Security, they warned that the bailouts would move the U.S. to a socialist economy.
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Reacher

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Re: wtf is wrong with the right?
« Reply #8972 on: July 01, 2026, 11:58:56 PM »
In bank bailouts, the losses are “socialized.” That’s not capitalism, however the fuck you want to paint it.
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ThePAMan

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Re: wtf is wrong with the right?
« Reply #8973 on: Today at 07:56:23 AM »
Quote from: illiniray on July 01, 2026, 07:58:46 PM
The problem is the bank bailouts aren't done to benefit the poor and working class. They are done protect the wealthy, an example of socializing risks and privatizing profits.

More an example of state or crony capitalism.

It went so well the last time a bunch of banks fell. You should remember it well
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Custard

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Re: wtf is wrong with the right?
« Reply #8974 on: Today at 10:03:54 AM »
Quote from: Reacher on July 01, 2026, 11:58:56 PM
In bank bailouts, the losses are “socialized.” That’s not capitalism, however the fuck you want to paint it.

From Hal6969:

Quote
Here’s why they are usually not considered socialism:

* The government did not take permanent ownership of the banking industry or convert it into public property.
* Banks remained privately owned and operated.
* The government’s stated goal was to stabilize the financial system and prevent a broader economic collapse, not to replace markets with state control.
* Much of the money provided through TARP was repaid, and the U.S. government ultimately recovered more than it disbursed on the program overall, although some specific programs and companies resulted in losses.
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Custard

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Re: wtf is wrong with the right?
« Reply #8975 on: Today at 10:09:55 AM »
Quote from: alum74 on July 01, 2026, 11:48:28 PM
During the 2008 financial crisis,  conservative commentators and some Republican lawmakers characterized the bank bailouts as "socialism for Wall Street," "corporate socialism," or "government socialism."

Similar to earlier criticism of Medicare and Social Security, they warned that the bailouts would move the U.S. to a socialist economy.

Hang on, you mean to tell me that opposition politicians exaggerated or misrepresented a situation for political gain? 🤯
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ThePAMan

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Re: wtf is wrong with the right?
« Reply #8976 on: Today at 10:22:06 AM »
Quote from: Custard on Today at 10:03:54 AM
From Hal6969:

Hal6969 doesn't understand "socialism" as Tempo and Nichi understand it.
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