$14 Trillion in Debt and WHAT do We HAVE to show for it?

Wall Street Socialism

By Matthew Rothschild, September 17, 2008
The Progressive

If there are no atheists in a foxhole, there certainly aren’t any capitalists in a financial crisis.

After making one reckless bet after another, Wall Street firms have run to Washington with their tails between their legs.

And except for Lehman Brothers, Washington has thrown them some expensive bones.

The Fed just dished out $85 billion to AIG, after forking over $29 billion to Bear Stearns, and getting us all on the hook for hundreds of billions of dollars to back Fannie Mae and Freddie Mac.

This is socialism for Wall Street.

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http://www.progressive.org/mag/wx091708.html

‘Owner-ship’ sails in the face of record corporate profits

John Eby:
Published 5:58pm Sunday, November 28, 2010
Niles Daily Star

The Commerce Department reports that corporate profits have never been higher in American history, yet Republicans — the business party — aren’t celebrating this news.

These profits are coming not from revenue growth, which would benefit workers and executives, but from cost-cutting that keeps unemployment at 9.5 percent, allowing more of companies’ meager revenue growth to flow to the bottom line.

The New York Times calculated that at $1.66 trillion, U.S. corporations are on track for annualized profits that are the highest since such records were first kept in 1950.

Gains in profits are due mostly to rising productivity as workers spend more hours working and getting paid less to do it.

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http://www.nilesstar.com/2010/11/28/john-eby-owner-ship-sails-in-the-face-of-record-corporate-profits/