Wars, Bailouts & Elections
Program #CHON195. Recorded in Cambridge, MA on September 10, 2008.In the economic meltdown the term "in history" is routine. E.g., the biggest bailout in history, the largest bank failure in history, the greatest corporate collapse in history, and the stock market's worst week in history. There are more in histories on the horizon because the fundamental issue is not being addressed. The so-called free market is not free. Washington has forever been intervening on behalf of corporations. Sometimes with direct cash but more often through the tax code. And don't forget all those lucrative government contracts secured by lobbyists. Can anyone see the dots much less connect them? The political class votes for Wall Street while invoking the name of Main Street. Instead of buying toxic assets with taxpayer money why not give the money directly, at no or low-interest, to homeowners who are in danger of foreclosure? Interviewed by David Barsamian.
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