A plug for socialism

[Monster_Munch]

There is a reason US is the undisputed leader in innovation in practical every front.

Many of America's most important technological innovations come from taxpayer funded organisations like NASA, DARPA and MIT.

 

[HomerJS]

You need to work on your talking points.

The bank 'bailout' cost very little money when it was all said it done. We didn't 'bailout' the banks, we just loaned them some money that most of them paid back.

The bigger redistribution happened when we bailed out GM and Chrysler or the countless billions sent to union dominated industries, such as construction.

And the auto bailouts were sucessful saving over 1 million jobs and GM is almost 1B in the black. So does this mean you are for or against bailouts? I'm sure you were one of those people bitching about all this stimuli (correct English?)

Wall Street was the main culprit in the economic melt down yet all we hear from the right is union contracts are causing state budget deficits. WS was the only group of people despite causing the problems, that did not have to participate in the "shared sacrifice". "Yeah we fucked up but still get to keep our million dollar bonusus and take government bailouts...suckers".

Again the only people really scarificing are the middle class and the poor. If the GOP are so into givebacks why not "renegotiate" the bonus clauses of Wall Street before giving them money?

 

[Jaskalas]

Does anyone have a current tally of the cost of the government bailouts of the finance industry since 2008, including any repayment?

Buying all the SPECULATIVE debt of high-risk derivative type investments at 100 cents on the dollar was not cheap. Goldman Sachs alone is reportedly in the tens of billions.

Of course, they're the company that forced the crisis in the first place - not the overall situation, but the crisis, when every other institution agreed to help defuse it.

Last count I have is that the government loaned out $24 Trillion dollars. How much has been paid back, or simply kept as an investment I've no idea.