"America's 21st-century financial victims make no protest against the Federal Reserve's policy of showering dollars on the people who would seem to need them least."
In his book 1936 book, Under the Axe of Fascism, historian Gaetano Salvemini explained that fascism makes taxpayers responsible to private enterprise, because "the State pays for the blunders of private enterprise... Profit is private and individual. Loss is public and social."
As the government socks taxpayers with bearing the consequences of the reckless behavior of more financial entities, the Wall St. Journal asks, "Why no outrage?" Indeed, why?
Posted by Sherrie Gossett at 3:05 PM