Tuesday, September 23, 2008

Rachel Maddow Explains the Stock Market Crash

Posted by Mike Lewis at 2:25 PM

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4 comments:

Andrew said...

i love it.
this is all going to get much worse before it gets better i think.

September 23, 2008 at 4:01 PM
Unknown said...

I think what you think is correct. It looks like our entire society is about to implode if we don't start to make sweeping changes in how things are done. I don't pretend to have the answers but it isn't looking pretty.

I don't understand these bailouts myself, the executives of massive failing companies are given a free out after running said company into the ground, and then rewarded for it with massive (more than the average working family will ever see in their lifetime) retirement/severance/whatever bonuses.

I would have rather we not bailed any of these companies out. Sure some people would suffer for a bit, but to give companies a free out teaches the corrupt execs that there is no risk in their corruption and rewards them for taking what amounts to theft from the working class.

September 23, 2008 at 4:17 PM
Andrew said...

Marxist revolution anyone?

September 23, 2008 at 5:04 PM
Unknown said...

We are well on our way to a socialist society. Bush has done more to socialize the united states than any liberal could ever do. Under his watch we have seen the socialization of the banking industry and the auto industry isn't far behind.

Myself, I believe in the foundations of a free market economy. Unfortunately we are failing to practice them. If a business venture fails, that responsibility falls solely on those with a stake in the company, those in charge of said company too should be held responsible, but instead our governing bodies have decided the burden should instead be placed upon the tax payers. This is a travesty as far as I'm concerned.

Given 300 million people in the US and an even distribution of taxes, I am going to be stuck paying $5,000 of the $1.5 trillion in new debt our "conservative" government has added this year alone.

September 23, 2008 at 5:30 PM

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