The Nation.



For a Social Bailout

By Robin Blackburn

This article appeared in the April 14, 2008 edition of The Nation.

March 27, 2008

Write a web Letter!

  • Hercules, Calif.

    Without reclaiming our Governments' right to create money from the privately owned and operated Federal Reserve all is for naught. The banks will prevail again, and again take the power of money creation and subdue us with it.

    What is it that they say? "Follow the Money." Well, when you follow the money you find the 'for profit corporation' known as the Federal Reserve and it's owners, the Member Banks.

    Michael McKinlay
    03/28/2008 @ 04:24am


  • Carrboro,

    Thank you, Robin Blackburn, for saying something that, so far as I can tell, has been largely absent from this debate. The federal government (and the people of the US) should be getting something in exchange for this bailout.

    After all we have heard about 'conditionality' regarding bailouts in third world countries (i.e. cut your free milk program and open your local markets to US agriculture or no money) it's incredible that this talk disappears when the object of the bailout is financial institutions.

    The US should get a stake in these companies it is bailing out. It should also be able to say, for example,"You want the money? Then no executive bonuses for an extended period."

    Simple justice requires these steps.

    Steven Sherman
    lefteyeonbooks.org
    03/28/2008 @ 04:14am


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