New Deal, “Screw Deal”

A colleague of mine at the Prometheus Institute recently posted a follow up to his article, “Screw Deal”, about the government bailout of financial institutions.  Devon Carr’s “Screw Deal II” is a great read for those with limited knowledge of economics (those such as myself) who are looking to better understand the disaster that has been brought upon us by our government’s continued profligacy and corporate socialism.  Carr asks,

“So let me get this straight; we’re giving our money to institutions that are making billions in profits per quarter, so they can turn around and lend it back to us? Admittedly, their profits have declined in the last year, but why do profitable companies need help from the taxpayers who represent the genuine economy and actually produce something?” 

Why, indeed.  You can read the entire post here.

Published in

Post a comment