CBC News - World - Shamelessness on Wall Street, who knew?
Put more precisely, this was a brilliant exercise in privatizing profit and socializing risk.
Which is the American way, no matter what conservatives here want to believe about the risk-taking, enterprising, can-do spirit of rugged individualism that supposedly separates American businesses from their spoiled counterparts in the socialist nanny states of Europe and Canada.
To their credit, a great many Americans have seen this for what it is, are angry about it and have called their politicians.
Some of those politicians have had the courage to call people like Blankfein on their nonsense about doing God's work.
Democratic Senator Maria Cantwell has a better term: "casino capitalism."
"Wall Street is not providing access to capital for companies that make things," she says. "Wall Street is using government bailouts to lever up."
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