Democrat Congressman Admits TARP/Pay Czar Equal ‘Socialism for Some Companies’
"I think the American people want capitalism, but if we're going to have socialism for some companies, they don't want capitalism for the executives of those companies."
June 12, 2009 at 9:12 am - Fox News Dateline: Washington, DC
TerryJune 12th, 2009 - 9:41 am
Thank you to all you lemmings that voted for this administration. You fell for some flowery rhetoric that made you feel good. I guess until they come after your lunch you really don’t care.
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General ForrestJune 12th, 2009 - 9:53 am
I know it’s a stretch, but maybe there are a few Democrats with brains that will join with Republicans and stop this Marxist juggernaut.
CommonSenseJune 12th, 2009 - 10:44 am
Unbelievable! It’s amazing how the kool aid drinkers don’t see this.
This is the Hope and Change that is inevitable.
First the big companies that you on the left hate – but when there are no more companies who will they come after next? YOU.
Your uninformed, emotionally charged, ignorant votes have started the ball rolling towards the end of America as we know it.
You should be ashamed and scared.
REPENT NOW!
Socialism is exactly what the dems are about, some are even hoping for a communist regime.
Considering the fawning news coverage on Obama, it is no small wonder people made the uninformed choice to put a mark next to his name in the last election. Presently, the Obama administration is well on track to replace Jimmy Carter’s run as the worst presidency of the last century.
Timing is all to these socialist Dems. They want to create as much dependency on the government as possible. More dependency equals more votes. Two benefit cards in every pot–so to speak.
America has to wake up to the fact, Obama–and his ilk–desire, as the least, a socialist government and at the most communist. Comrade Obama was ranked the most left-wing when he was in the senate, as president, he’s taken that ball and ran with it. Freedoms have been eroded, rights diminished and personal wealth reduced on a scale hereto unknown in American political history.
The Libs laid 9-11 at the foot of the Bush administration a mere 100 days into office. By that standard, it is fair to say that this aweful economy and job hemorrhaging belongs to Obama and his liberal dems. America has made a horrendous choice in the last election, next time out, they should vote for anyone but Obama. No doubt this will continue to be a hard choice with the media continuing to “tingle” for the anointed one.
Eileen for Freedom/LibertyJune 12th, 2009 - 12:18 pm
America…continue to speak up and speak out…the truth is being revealed to many!
We have to stop this madness in the right way!
Some on both sides of the aisle are finally waking up to the fact that our country is going down the tubes fast…faster than any would have thought!
All this “ramrodding” of bills and policies before anyone can find out what they are or what they will do…is the trademark of Bilderberg Bush-Obama the puppet of the puppetmaster pulling the strings…the Bilderberg Society!
There is a deadline for everything! There is a deadline to destroy America!
Our freedoms and liberties are disappearing in such a subtle manner, most Americans won’t even realize what has happened until it is too late!
We Americans that see what is happening…must be the Paul Revere’s to warn others of the attack that is taking place on our shores!
America…the enemy is within. It smiles, it is diplomatic, it is smooth…it is destroying our country and it is the Democratzi machine and their leader Bilderberg Bush-Obama.
Promised change? Change has come America in our 401k’s, savings, private companies, banks, financial institutions, our states and our very way of life in America has changed.
But is has not been a “good” change, America! It has been a very, very damaging change!
Speak to your family, your friends, your neighbors warn them of what is taking place and how it is damming our nation bit by bit by bit!
The truth will overcome the continual lying and spinning of the Democratzi and the evil within our nation.
Evil will be defeated, America, with your help. With your prayers, with your involvement!
Never, ever give up…never!
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JUST ANOTHER PATHETIC DAY IN THE ‘REIGN OF BARRY HUSSEIN’ DESTROYING AMERICA FROM WITHIN JUST LIKE OUR ENEMIES (HIS NEW FRIENDS) HAVE ALWAYS WANTED…ONE 401K, ONE BANK, ONE CAR COMPANY, ONE FINANCIAL INSTITUTION, ONE STATE, ONE BIG STIMULUS, ONE BIG BAILOUT, ONE BIG OMNIBUS AND ONE SUPREME COURT NOMINEE IN THE HOPES OF TEARING APART PIECE BY PIECE THE GOVERNING DOCUMENT OF OUR REPUBLIC…THE CONSTITUTION!
Eileen for Freedom/LibertyJune 12th, 2009 - 12:49 pm
Americans for freedoms and liberties…rejoice…Ron Paul and other patriots in the Congress are working on our behalf to stop the madness!
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America…I have been stating for weeks now that the Federal Reserve is the financial arm of the Bilderberg Society. That they needed to be resolved. Now Ron Paul and other patriots like him in the Congress are going after them!
Hooray!
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As reported on Politico today:
Half the House now backs Fed audits
Listen up, Ben Bernanke.
Rep. Ron Paul’s bill authorizing an audit of the Fed — an attempt to curtail the independent body’s increasing power — has garnered its 218th co-sponsor, meaning it now has the support of more than half the House [It's now up to 222].
No. 218, but serendipity or design, was Rep. Dennis Kucinich (D-Ohio), whose suspicion of big business is matched only by the libertarian Texas Republican Paul’s suspicion of big government.
“The tremendous grass-roots and bipartisan support in Congress for HR 1207 is an indicator of how mainstream America is fed up with Fed secrecy,†said Paul in a statement. “I look forward to this issue receiving greater public exposure.â€
The issue isn’t going away, despite getting a cold shoulder from Congressional leadership and the White House.
House hearings on Federal Reserve transparency are expected within the next month — and Kucinich’s subcommittee forced the Fed to cough up internal documents earlier this week as part of its probe of the forced B of A-Merrill Lynch merger.
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America…we need to dissolve the financial arm of the Bilderberg and their stranglehold on our financial system and our government.
Call/email your reps in the House and tell them you want them to support Ron Paul’s bill HR 1207! Watch the hearings and continue to tell your neighbors, your family, your friends.
Continue to email/call your reps and keep on their case until it is done…do it as if your lives depend on it…because they do!
Also, read this article posted on Politico on how our US Sec of the Treasury and others in power in Washington visited the “secretive” Bilderberg meeting just last month in Greece. They gave a report on where we are in America in our financial crisis and our wars. Why? Why? America!
GOD BLESS AMERICA THE LAND OF THE FREE AND THE HOME OF THE BRAVE…MAY OUR ‘CHRISTIAN’ GOD IN OUR ‘CHRISTIAN’ NATION COME AND HEAL OUR LAND AND OUR PEOPLE AS WE GO TO PRAYER AND ASK HIS FORGIVENESS FOR THROWING HIM OUT OF OUR COUNTRY, OUR HOMES AND OUR LIVES!
kmichaelsJune 12th, 2009 - 1:34 pm
Ok, so in non surprising fashion the idiot democrats running the show currently are wanting companies to be run like a pure democracy, without representative leadership, just vote base on pure popularity. Now there is real wisdom in that approach. That is why our government is set up as a pure democracy and not a republic. God, are democrats really as stupid as they sound?
OtherJune 12th, 2009 - 1:35 pm
It should be noted that on the political leaning scale, as Senator, Obama was ranked LEFT of Socialism.
racerxJune 12th, 2009 - 4:43 pm
A finer point that is often lost is that America adheres to corporate socialism. It’s very similar to socialism in the sense that there is a redistribution of wealth that occurs. However, with socialism the idea is to try to redistribute wealth from the top to the middle and the bottom.
There is generally an attempt to be egalitarian under socialism.
Corporate Socialism, as we’ve seen, takes money from the middle and what can be found at the bottom and redistributes it upwards.
Corporatism and SocialismJune 12th, 2009 - 7:24 pm
Corporatism and Socialism in America
Principled advocacy of the free market requires an understanding of the differences between genuine free enterprise and “state capitalism.†Although the Left frequently exaggerates and overemphasizes the evils of corporate America, proponents of the free market often find themselves in the awkward position of defending the status quo of state capitalism, which is in fact a common adversary of the free marketer and the anti-corporate leftist, even if the latter misdiagnoses the problem and proposes the wrong solutions.
Indeed, corporatism, implemented by the state — whether through direct handouts, corporate bailouts, eminent domain, licensing laws, antitrust regulations, or environmental edicts — inflicts great harm on the modern American economy. Although leftists often misunderstand the fundamental problem plaguing the economy, they at least recognize its symptoms.
Conservatives and many libertarians, on the other hand, frequently dismiss many ills such as poverty as fabricated by the left-liberal imagination, when in fact it does a disservice to the cause of liberty and free markets to defend the current system and ignore very real and serious problems, which are often caused by government intervention in the economy. We should recognize that state corporatism is a form of socialism, and it is nearly inevitable in a mixed economy that the introduction of more socialism will cartelize industry and consolidate wealth in the hands of the few.
Leftists usually understand how wartime provides politically connected corporations with high profits and cushy contracts. What is more often neglected is that the history of the American domestic welfare and regulatory state also corresponds closely to the rise of corporatism. It is no coincidence.
Corporatism versus liberty in the 19th century
Throughout the 19th century, the two major political traditions in America offered authentically different views on the proper roles of government. The classical liberals, typified by Thomas Jefferson early on, had their political outlet in the Democratic Party, which, for the most part, stood on the side of limited, constitutional government and individual rights. Those who believed in a strong central government, typified early on by Alexander Hamilton, found their political home first in the Federalist Party, then in the Whig Party, and then in the Republican Party, the last of which openly embraced the doctrine of big government throughout the 19th century.
For about a hundred years the Jeffersonian tradition was mostly associated with the cause of the common man, whereas big government was often associated with monopoly privileges and big business. Hamilton and his philosophical progeny fought perennially for central banking, high tariffs, and subsidies to corporations to build “internal improvements.†Hamilton’s first major successor, Henry Clay, called this governmental corporate program the “American System.â€
By the end of the 19th century, the so-called robber barons came to dominate much of the industry in oil and railroads. Misunderstood by nearly everyone, they were neither demons on earth nor flawless gods. They certainly were not a homogeneous group nor were they champions of pure laissez-faire capitalism. Most notably, the federal government empowered the railroad tycoons with eminent domain, forcibly taking privately owned land and giving it to the railroad companies. That was not the free market at work.
The Progressive Era
The Left has often hailed the Progressive Era as a time when, for the first time, Hamiltonian means — big government — were used to achieve Jeffersonian ends — the dignity and respect of the common man. In fact, the Progressive Era was a time in which both corporatism and socialism received major steroid injections.
Corporate interests pushed through the most significant Progressive-Era government reforms in order to guarantee profits, which they had been losing to smaller businesses that had emerged in the relatively free market of the early 20th century. Gabriel Kolko’s groundbreaking book The Triumph of Conservatism best advances this thesis of how the government expanded to accommodate, rather than curb, the interests of big business. Though a New Leftist, Kolko shows how political capitalists in every industry — from meatpacking to coal, from railroads to insurance — embraced the expanding regulatory state for their own gain — to push competitors out of the market and give government legitimacy to their companies.
Kolko shows how, in spite of the conventional history that characterizes the Progressive Party’s nomination of Teddy Roosevelt in 1912 as a response to the backwards laissez-faire William Howard Taft administration, in reality the party was favored by large businesses with whom Teddy Roosevelt had strong ties and whom Taft had alienated by failing to accommodate and empower through the regulatory state.
Perhaps no government reform has been more misconstrued as anti-business populism than the Federal Reserve, which was sold to the American people in 1913 as an agency to regulate greedy and irresponsible bankers. As Kolko and many others have shown, the Federal Reserve established a banking oligopoly, guaranteed bailouts for the big bankers, created new barriers to entry for smaller bankers, and was in fact designed by people representing some of the most powerful banking interests in the world, including the National City Bank of New York; Kuhn, Loeb & Company; J.P Morgan Company; and the First National Bank of New York.
The New Deal
Both Franklin Roosevelt’s admirers and his detractors often think of his New Deal legacy as generally socialistic. Like the Progressive Era, the New Deal is widely misunderstood: it did indeed attack the free market, but often did so at the behest of corporate interests.
Such interests were largely behind the emergence of the National Recovery Administration, which exemplified FDR’s economic central planning. Far from being a purely egalitarian agency, the NRA was largely modeled after the policies of Mussolini, who had yet to be considered an enemy by most Americans, but rather was still seen as an inspiration by many. As John Flynn explained in his book, The Roosevelt Myth,
[Mussolini] organized each trade or industrial group or professional group into a state-supervised trade association. He called it a corporative. These corporatives operated under state supervision and could plan production, quality, prices, distribution, labor standards, etc. The NRA provided that in America each industry should be organized into a federally supervised trade association. It was not called a corporative. It was called a Code Authority. But it was essentially the same thing. These code authorities could regulate production, quantities, qualities, prices, distribution methods, etc., under the supervision of the NRA. This was fascism. The anti-trust laws forbade such organizations. Roosevelt had denounced Hoover for not enforcing these laws sufficiently. Now he suspended them and compelled men to combine.
Though the NRA intended to guarantee profits through mergers and price controls — forbidding smaller business from competing by offering better prices — big business, big labor, and most other initial supporters turned against the NRA when it became universally recognized as a complete failure. In 1935 the Supreme Court found it unconstitutional. Aside from the NRA, other New Deal measures epitomized naked corporatism. The Agricultural Adjustment Administration cartelized the farming industry, and Roosevelt’s farm subsidies and price supports have to this day helped to solidify a corporate stronghold in American agriculture.
Corporatism and socialism in today’s America
In more recent years, corporate interests have often cheered on big government programs, often the same ones championed by those who consider themselves anti-corporate. In the late 1990s, the now-defunct Enron was one of the largest lobbying influences behind the international Kyoto Treaty, which would have forced the world to comply with a ghastly web of new regulations and would have meant large energy contracts for Enron, had the company not gone bankrupt. The antitrust breakup of Microsoft was a de facto giveaway to competitors such as Netscape. (One of the complaints about Microsoft was that it intended merging with AOL, a company with which Netscape has since joined forces.)
Bush’s farm subsidies are direct welfare for the biggest agricultural corporations, and his protectionist trade policies are indirect welfare for politically favored businesses. His recent expansion of Medicare has been both the greatest augmentation of the American welfare state in decades and a giveaway to large pharmaceutical corporations. If universal health care ever comes to America, the corporations are likely to stay intact but will no longer have to satisfy customers, only the politicians.
To convince the anti-corporate skeptic of the benefits of the free market, it is crucial to defend the legitimate systems of profit and private property, but it is also vitally important to make clear that America doesn’t have a free-market economy, and indeed many of the ills associated with free markets are actually the result of state capitalism — or socialist corporatism. That the expansion of government regulations, often done in the name of combating corporate excesses, is frequently supported most enthusiastically by corporate interests makes it all the easier to explain economic liberty to those who have become disenchanted with the current system and misattribute the problems to the free market
Thank you to all you lemmings that voted for this administration. You fell for some flowery rhetoric that made you feel good. I guess until they come after your lunch you really don’t care.