Clouding the Issue of Socialism

If Americans were to judge the validity of the federal government’s recent bailout of Wall Street by the media, they would think it was a good thing. Certainly there was no news coverage that favored a negative view of the bailout. Does that not suggest that media in America today only is propaganda for the federal government, or is it propaganda for something else? Wall Street perhaps? That is a fitting example seeing as after decades of independent operation the Wall Street Journal flinched and was bought by Rupert Murdoch’s NewsCorp. Has anyone stopped to think the Wall Street bailout by Americans’ tax dollars was not a good idea? That is because it was spun. The Wall Street credit bailout was instigated by the loss of homes via high risk mortgages designed by Wall Street minds. There was no accountability for the loss, only faint echoes of more strenuous federal regulation in the future. There was no Grand Jury hearing. There were no public trials for corruption. There were no media exposes of deviant financial doings. That hopefully all is to come. Hopefully the scourge of Wall Street, the greedy tendencies, and the irresponsible mortgages will be exposed so America can continue buying homes. Was the Wall Street bailout a good thing, or are we continuing to do the same thing Bush economics have done for the last eight years. Did the federal government bailout Enron? What did the federal government do in the Savings and Loan Scandal? How was it the House of Representatives fervently rejected the bailout one day, and a day later the legislation “passed Congress.” There was not apparent media coverage of what words were changed, who in the House changed their vote, or how the bailout specifically would help America. It only was a bailout, a re-filling of the credit coffers to get money moving again, money that Americans do not own. Credit. Liquidity. Our country has been operating under the guise of “credit” for over a decade now, and the jig is up. The Wall Street bust was a necessary Check and Balance for an economy gone awry, and it should not have been stymied by a simplistic token bandaid.