One recurring accusation of Obama's attempts to attach some strings to Bush/Paulson's plan to bail out overnight-no-longer-profitable mega corporations with tax payers money is that he has a socialist agenda.
I think it's so demagogue to accuse Obama of socialism. If one insists on the term though, consider that it was the Bush gang that decided to take people's money and throw it no strings attached at those that were bringing down the capitalist system. Essentially, it was Bush's form of socialism that was implemented. Obama et al are in the uncomfortable position to make sense out of a senseless act. The premise of capitalism is that companies survive and profit by competition. In my opinion, these companies failed and money is better spent on helping those that have become victims of this failed concept of profit without responsibility. All the pollution, fraud, bribery, and political control that these mega conglomerations have effected is now old-school. Forward thinking is needed that takes into account our well-being and the health of ourselves and the planet. All those that are now losing jobs and homes would be well served if innovative measures are equally applied to the taxpayers that are in distress and whose funds are being taken without any say on their part. I'd call that fair, but some may call it (a form of) socialism, because at the basis the idea of fairness scares them.
About Timothy Geithner
Read the Article at HuffingtonPost
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