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Friday, April 10, 2009

Bailout Nation to Socialist Nation?

Items of Interest:

Buck up comrades, going socialist with a nary a whimper

Rasmussen Reports:
Just 53% Say Capitalism Better Than Socialism — Only 53% of American adults believe capitalism is better than socialism. — The latest Rasmussen Reports national telephone survey found that 20% disagree and say socialism is better. Twenty-seven percent (27%) are not sure which is better...

Myglesias / Matthew Yglesias: The Declining Unpopularity of Socialism
Kathy / Comments from Left Field: New Poll Sends Right Into Tizzy
Chris Good / The Atlantic Politics Channel: Americans Split On Capitalism?
Conor Clarke / The Atlantic Business Channel: Not Quite the Road to Serfdom
Dr. Steven Taylor / PoliBlog: Latest Worthless Poll Numbers
Jesse Taylor / pandagon.net: Socialism: For Sucka-Free MCs
Pundette / Pundit & Pundette: Rasmussen: socialism vs. capitalism
Brian Montopoli / CBS News: Just 53 Percent Say Capitalism Is Preferable To Socialism

We are all socialists now... imageryrelated:
We Are All Socialists Now -- In many ways our economy already resembles a European one. As boomers age and spending grows, we will become even more French...

Celestine Bohlen / Bloomberg:
Workers Go Wild, Reap Government Goodies - What do a furloughed French factory worker and a Merrill Lynch & Co. boss have in common? Both feel entitled to grab for as much as they can as they head out the door.

Of course, the laid-off worker at a Caterpillar Inc. plant in southeastern France is a blameless victim of the worldwide economic slump, unlike those Merrill employees who reached for big payouts even as they were sweeping toxic debt under the rug.

Still, when the Caterpillar employees near Grenoble hold four plant managers hostage overnight, they are exhibiting the same kind of “what’s in it for me” thinking as the gang that received $3.6 billion in bonuses just as Merrill was being sold at a fire-sale price....

John Tamny / Real Clear Markets:
More Financial Regulations, More Financial Failures

Martin Sorrell / Financial Times: Capitalism Will Escape Its Deathbed
James Freeman / Wall Street Journal:
Is Silicon Valley a Systemic Risk? -- The Obama administration wants to regulate venture capital firms to prevent systemic risks. Silicon Valley residents are scratching their heads and asking: What risks? The rest of us should ask why Washington is targeting a jewel of the American economy that had nothing to do with the housing bubble...
Erick Schonfeld / TechCrunch: Hey Geithner, Get Your Grubby Hands Off The Venture Capital Industry
Barrett Sheridan / Newsweek Blogs: Breakfast Buffet, Thursday, April 9
Andrew Grossman / PointOfLaw Forum: SEC Rules for Venture Capital?
John Robb / Global Guerrillas:
Playing with Global Economic Dominos for Fun and Profit -- One of the most unappreciated aspects of our global economic system is the ability of small groups, typically driven by greed, to severely disrupt it...
Myglesias / Matthew Yglesias:
Wells Fargo Posts Record Profit — When you hear about something like Wells Fargo posting record profits, I think you should resist the temptation to do what I saw some TV anchors doing this morning and start wondering if banks are in better shape than you thought...
Joe Bel Bruno / Wall Street Journal: Wells Fargo Projects Record Profit
More Quickly Than It Began, The Banking Crisis Is Over — Investors find it disconcerting to see the stocks in the huge financial institutions that are at the foundation of the global capital system trading up and down 25% a day, and, in some cases trading in the pennies...
Moe Tkacik / TPMMuckraker:
Paul Krugman / New York Times:
Making Banking Boring
Myglesias / Matthew Yglesias: The Ethics of Homo Economicus
Big Tent Democrat / TalkLeft: It's Not A Matter Of Trust
Henry Blodget / Clusterstock: Krugman's Horrifying Solution: Make Banking Boring

Jonathan Weil / Bloomberg: Obama Stakes Fortune On Failed Banksters
David Weidner / Wall Street Journal: The Meredith Whitney Myth
Megan McArdle: