Is America becoming socialist?

Two of the nationalised corporations, Fannie May and Freddie Mac, are by far the biggest mortgage lenders in the world, with $5 trillion of mortgages and loans on their books. That’s five times India’s GDP, to put their size in perspective. The third corporation, AIG, is the biggest insurance company in the world. No nationalisation in professedly socialist countries was ever so big.

Leftists suspect the US takeovers aim to rescue rich shareholders. Not so. The government will acquire 79.9% of the shares of these companies at virtually zero cost, pushing down the share price close to zero. So, rich shareholders have been wiped out, and the bosses of all three corporations have been sacked.

Is America becoming socialist?-Swaminomics-S A Aiyar-Columnists-Opinion-The Times of India.

Let’s hope they don’t run these companies with the same efficiency as the U.S. Postal Service.

Explore posts in the same categories: aero

One Comment on “Is America becoming socialist?”

  1. Tim Says:

    Talk about putting lipstick on a pig. I would think any self-respecting right-winger would be outraged by this situation.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: