Socialism for the rich. Capitalism for the rest

socialism for the rich

Goldman’s new ‘American Socialism Manifesto’

8 ways ‘The Conspiracy’ is destroying our American democracy

In “Bailout Nation,” hedge fund manager Barry Ritholtz summarizes this clandestine takeover of the great American democracy, led by Paulson and the Goldman Conspiracy juggernaut. In less than a year America has become “Socialism for the Rich! Capitalism for the Rest,” says Ritholtz.

While this should be coming from the left (which is – as I’ve repeated until you’re all probably tired of me saying it – stumbling around in a stupor apparently unaware a major crisis of capitalism is happening), it’s instead coming from financial insiders and those dangerous radicals at Marketwatch. Yes, Marketwatch.

Here’s some of Marketwatch’s rules for the new Socialism for the Rich

– Always elect a figurehead president
– Greed is great in the new ‘Socialist-Capitalism’
– American taxpayers are Wall Street’s personal piggy bank
– Government-approved CIA-style silence hides ‘The Game’

Read the whole thing. It’s quite extraordinary. When capitalists get pissed about exploitation while socialists sleep the crisis out, well, it’s a whole new world, isn’t it?

Image from Barry Ritholz’s The Big Picture.