posted by Chris Bray @ 8:50 AM
Or, better yet, wipe out the banks!! Obliterate the common shareholders ..... at least 40% of the common stock is held in 401Ks and pensions funds, and annuities. Wipe out those capitalists and make 'em suffer!! Let the government allocate credit, and then we'll surely have a productive economy!
If the management of the banks run their institutions into the ground, and they then go out of business, who is it that wiped out the banks and obliterated the common shareholders? The bank loses the money, but if the government doesn't make the bank good on its losses...that means the government destroyed the bank?
And by the way, "capitalists" [does not equal] people who survive on government bailouts. That word has been covered with a tarp.
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A blog written by increasingly few graduate students in the UCLA history program.
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