Bailouts and stimulus are not enough

More ate http://therealnews.com/c.php?c=081201YT
Leo Panitch: Governments must take control of the banks to keep credit moving amid crisis

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• canada
• financial
• crisis
• economy
• therealnews
• banks
• credit
• bailout
• stimulus
• car
• auto
• industry
• derivatives

[MarquisdeBarrabas]

"capitalism is who we are as a species - it is nature itself."

Thankfully, human nature is much richer, complex and generous than what free market defenders would have us believe.

[Rundstedt1]

Re: shanklinmike and his self promotion.

Don't listen to him.

His Libertarian crap would make this much worse. Having no, or minimal state, while leaving capitalist accumulation and the means of production in private hands would result in a greater concentration of wealth and an elite more powerful than even now. Meanwhile all the regulatory agencies would disappear. It is a corporate wet dream.

Libertarian/Market-anarchist = Stateless-Neocon

[agapeiron]

@immanent Yeah, I mean, in a video addressing the Wall Street crash, we need more BUSINESSMEN that have entered politics to be heard. It's time people celebrating capitalism finally get a chance to spread their free market propaganda on every conceivable media outlet.

[rickbar123]

we could end nafta and free trade.

shut out china, put americans back to work producing things we use.

jobs = money in the workers pocket= spending

[Pekelharing]

I am from Europe and what Panitch says makes sense to me.

[MarquisdeBarrabas]

Apparently, you haven't.

[immanent]

Where are the interviews with Peter Schiff, Jim Rogers, Walter Williams, and other free market Austrian economists? How about a little more BALANCE?

Fucks sake, Leo Pantich? No wonder I stopped watching Real News.

[Gonji]

US needs to work on more trade policies to buy back their treasuries.

[RLore18]

"Governments must take control of the banks to keep credit moving amid crisis"

...

...

It's just amazing how much error can be compressed into 13 words.

The banks are all federal reserve banks which practice fractional reserve banking and inflation through loans - no matter how bad the economy gets they'll still do 10,000% better than everyone else. These banks are heavily tied to government already. If government were to control printing its blank check would become even easier to write.

[scipio2009]

What is so wrong with tendering GM a loan, which is what it looks like they'll be doing, to make sure that their facilities still run, while they continue to restructure their operations and sort their affairs.

You make sure that all the suppliers and dealerships keep their jobs, while you streamline the company.

It's already been spoken that GM plans to focus it's business around it's core 4 lines: Chevy, Buick, GMC, and Cadillac.

To me, that's a good start for restructuring

[scipio2009]

And with consumer snip you threw in, I have to assume that you're referring to the Big 3.

To that I say why are you so against a controlled "failure", your words and not mine?

The numbers that the media is throwing around states that almost 3 million jobs, directly or indirectly, run through GM, alone. In fact Ford, a company that is doing relatively well, would fall soon after GM would, just because of GM's share of the market.