The Single biggest move towards socialism in History?

Can any of you economic intellectual giants please explain to me what you think would happen if we let these financial institutions fail?

Its so funny anytime we refer to your Demoratic leaders as Socialists you guys cry that we don't know what Socialism is, but now the worm has turned and you are crying socialism and you don't know what it means. Fannie and Freddie, their names are acronyms for Federal National Mortgage Association and Federal Home Loan Mortgage Corporation, were always government entities, the Fed just took more control over them because the government has a broader financial wheelbase and because the US couldn't let millions of FHA home loans go south. Now one could argue that those are socialistic in nature, and I have long argued that they should be done away with, but its not like these are a new happenstance, these entities were started by FDR in that socialistic takeover of the country it has nothing to do with G-Dub he wasn't even alive then.

The Federal Reserve bank is not part of the government, its a non-governmental entity set up to do just this. So far all they have done is promised to provide AIG with money in case they need it, no money has changed hands yet. AIG is an insurance company its not like Lehman or Merrill. And in turn if AIG does take advantage of this loan the United States of America will own a portion of the company, because we will be using taxpayer money to prop them up. So in essence we, you and I, are loaning AIG money to be able to pay its obligations to you and I and we get a partial stake in it, through our representatives because we are in fact a representative democracy.

Lehman and Merrill were bought by other banks that's how capitalism works.

For all of the miseducated CNN fanatics, socialism isn't really that bad of a system. "Necessary evil?" What a joke.

Taxes are not the Antichrist, it just depends on how the government spends the money. Yes, taxes would go up under socialism, but common sense should tell you that taxes would go up so that the government would have enough money to provide social services for all of its citizens (that includes you). Because taxes would go up, the government would have no excuse for not providing all of its citizens with social services. And if the government still didn't spend our money the right way, then people need to say/do something about it.

Holding corporations responsible for their actions and whatever role they play in shaping social institutions is not evil or wrong. From ridiculously high gas prices, to advocating wars, making profits off of wars and people dying, putting people in debt, lobbying politicians to support laws that hurt the common man, and the list goes on, big businesses do things to insult us and destroy our livelihoods in every part of our lives on a daily basis. Somebody needs to bring about social justice, instead of making individuals who react to the actions of corporate America pay individually for reacting to a situation they've been put in. They lie to you politically, and cheat you economically.

If you want to bring up China or Russia. Yes, they are superpowers, yes, they have communistic/socialistic qualities, but they do not represent all communist/socialist ideals, or practices. In fact, many people would argue that their roles in future political changes in other countries would be minimal, outside of guidance and providing supplies. So if America were to become socialist, China/Russia/Cuba/North Korea/whoever would not take over.

By the way, spending money on people who are already rich and putting the country further into debt while forgetting the common man is nowhere near socialist.

Peace

this just didn't happen it has been building for the past 10yrs when you have people getting mortgages they know they cant afford lending institutions giving people loans they know they cant afford it was just a matter of time. Weather I like the buyout or not I wasn't consulted on how my money was going to be spent but I guess it was a necessary evil that was done but the stock market will hit the bottom in a couple of weeks when wall street gets back to business and all the bidding gets back to normal{ now they can only bid 'up' just wait till they start bidding 'down'.

Bingo.... but don't tell anyone... it should be a surprise to them when the Government tell shtem they make too much and should only make XXX Zaphod... WHY is the Govt even considering bailing out a company? You ask why they should be allowed to set wages, I ask why should they be allowed to bail them out? Comapnies that can't compete fail all the time, that is the nature of capitalism and it is a healthy thing.

Bush is the biggest socialist since FDR, except he doesn't care where your tax money goes. He has unprecedentedly expanded federal powers, never met a bill he didn't like for his first 6 years, and has outspent LBJ. The man is simply reckless.

I despise socialism.

Socialism for big corportaions and elitists is fascism, just to let you know and the right is all for fascism.

Just add a little nationalism (patriot act and "country first" rants), and then thow in a little religious fundamentalism, and Nazi Germany is Reborn in North America.

Who would have guessed that it is Bush by taking over AIG and bailing out others. The US government is now in the mortgage debt business. Watch us fall, we're sinking!

No it's not

Socializd healthcare would be.

2.4$ trillion U.S. taxpayers would have to pay all alone.

not even including all of the recently new illegal immigrants and explosion of inflation.

In 10 years the minimum taxpayer money spent on healthcare.

24,000,000,000,000$

minimum

maximum taxpayer money spent on the bailout

1,000,000,000,000$

The bailout is a one time thing, if these companies are going under again, don't expect them to get any help, this has been going on since the Stock Market explosion in the 90's due to the Internet.

It just finally burst.

Besides the Birthdates of Che and Marx, it is the candidacy of Barack Obama

Have we forgotten what socialism is?

The biggest move toward socialism is nationalized health care.