The idea that certain large, politically connected private firms are essential to commonweal and must be supported at all costs by the state is quite the essence of “Mussolini-style Corporatism“. …What’s good for Citibank is not what’s good for America.
via seekingalpha.com
And even Obama supporter Warren Buffett is complaining that “Government is determining the ‘haves’ and ‘have-nots.’ That is why companies are rushing to convert to bank holding companies, not a course feasible for Berkshire.” He says Berkshire and its pristine credit can’t compete with the cheap money flowing to “financial cripple[s] with a government guarantee[.]”
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