Paulson's Version of Capitalism

The United States of America was founded upon an economic philosophy that most members of both parties ultimately agree with to some degree or another.  That philosophy is, of course, capitalism.

Now we're told that capitalism is threatened by the incumbent President.  Obama with his tax cuts on the middle class and his spendthrift habits and his owning GM and Chrysler is turning this country into a socialist republic.

But where were these people at the end of the Bush administration warning us?  Was it not President Bush that was the first President to run a major corporation since FDR?  Was it not President Bush that took over 85% of AIG and ousted its CEO?

Again, no President since FDR (& Tennesee Valley Authority) has ever had a major government run corporation until Bush 43.  And AIG is publically traded!

So now these right wing crazies are suggesting we boycott General Motors and Chrysler.  Even moderate to conservative radio show host Michael Smerconish told Chris Matthews that he disagreed with the boycott and believed it was "a political ploy".  He even said that it was interesting that about the same number of people who support the boycott support the Republican party...in both cases near 20%.

But today we found out the worst of Paulson's socialism.  We already knew that he pressured CEOs to take bailout money (or else).

Now we know for almost certain thanks to the Congressional Oversight Comittee investigators that Paulson did in fact threaten Bank of America CEO Ken Lewis into purchasing Merryl Lynch.

We moderates and liberals knew back then that buying ML was a horrible idea because it was large corporations (and banks with risky assets) that destroyed the economy.  We just didn't know that the decision to purchase it was made by the US Government.

And they want to call us the Democrat Socialist Party?  They've pushed us so far down the path to socialism that I don't know whether Obama can bring us back.