Socialist Frenchies.

In France, which is derided as socialist on CNBC, Societe Generale and BNP Paribas are paying their government back the bailout money by raising capital. In the wonderful democratic US the government still owns more than 30% of Citigroup among preffered shares in hundreds of other banks.

2 comments:

Onlooker said...

We don't have true free market capitalism. We have crony capitalism where our govt is paid off and controlled by the moneyed interests and small business is given lip service support but is crushed by policies and tax treatment that favors and subsidizes big businesses and big banks.

It's shameful and disgusting.

Anonymous said...

We have free markets. You are free to create an Internet business, take a loan to start the business, and then take it public, and then buy a Lamborghini Gallardo. All you have to do is pay taxes, which is expected. Only when you become too big to fail does all that stuff about crony capitalism come into play. It's a necessary evil needed to save the asses of Harvard MBA's who fuck up. If you want to join them, just get a Harvard MBA.