Quote:
Originally Posted by aceventura3
Obama is nationalizing our largest banks. Given those banks a competitive advantage over over small banks. In essence competition is being severely restricted in the market, over time ther will be less and less competition as the big banks buy up the small ones and the government will have controlling ownership, regulatory control, and the power of legislation to dictate or mandate what the banks do. that ain't capitalism, that is socialism.
He is doing the same in the Auto industry. Socialism
He wants to do the same in healthcare. Socialism
He wants to do the same in energy. Socialism
He wants to do the same in education. Socialism
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Bailouts aren't the same thing as nationalization, Ace. Nationalization of industries might be in the same zip code as "socialism" but bailouts aren't anything of the sort. Baili-outs are artificial capitalism and corporatism, not socialism. If Obama were nationalizing the banks, he'd be laying off the upper management and be replacing them with a government agency. He's not. We've giving the existing, free market companies money as an investment. There's a massive difference between the two.
BTW, if the market can't compete with the government in certain regards, isn't it in accordance with capitalist theory that the government, as the most efficient competitor, take the reigns in those regards? I'll give you a hint, the answer is yes.