Universal Translator

Showing posts with label franch banks. Show all posts
Showing posts with label franch banks. Show all posts

Thursday, September 29, 2011

Nationalizing the Banks Looks Better and Better

If Germany would just write them a check, that would solve the problem.  But the German taxpayer is asking, ‘why are we using our hard-earned tax dollars to prop up these profligate countries?’  Seventy percent of the German electorate is against bailouts.  It’s not like the United States where there’s a commonality of purpose and a vision of national unity.

                                                --Desmond Lachman,
                                                in an interview w/Ezra Klein

Oh, that comment made me laugh so hard that I spit out some of my morning tea.  A “commonality of purpose and a vision of national unity?”  In a country where:  (i) a sizeable percentage of the population – including one GOP presidential frontrunner – casually tosses around the notion of states seceding from the union whenever they’re unhappy with the federal government; (ii) the states themselves (in the words of former Michigan Governor Jennifer Granholm) compete to attract business away from each other in a race to the bottom in terms of workers’ wages, benefits, rights, and working conditions, and, of course, low, low corporate tax rates; and (iii) the only animating force in the Republican party is a visceral hatred for anybody who isn’t them?  That’s the country referred to as being bound by a sense of purpose and national unity?

Oy vey.