Socialism for me but not for theeHere is the reaction from Wall Street as reported by the New York Times:
“I think President Obama painted everyone with a broad stroke,” said Brian McCaffrey, 55, a Wall Street lawyer who was on his way to see a client. “The way we pay our taxes is bonuses. The only way that we’ll get any of our bailout money back is from taxes on bonuses. I think bonuses should be looked at on a case by case basis, or you turn into a socialist.”And here is Jim Cramer yesterday on MSNBC (February 2, 2009):
That, indeed, was a recurring equation: Broad strokes + bonuses = socialist.
Here is the same Jim Cramer last year:
Socialism for Wall Street. Socialism for corporate America. Or as one LG&M commenter put it (NonyNony): American style "capitalism" is all about privatizing profits and socializing losses. But what about American taxpayers who will be shouldering this burden for a generation? Don’t ask. That’s socialism.
Update (11:00 am): Apropos of this subject, I recommend this article at TruthDig (complements of Calliegirl).



