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Socialized Capitalism

by Chris Gilbey at 06:17AM (EST) on August 5, 2008 | Permanent Link | Cosmos

This is what Nouriel Roubini has to say about the current moves in the US to bail out the banks according to an article in Reuters:

"They have swapped U.S. Treasury bonds for toxic securities. It is privatizing the gains and profits, and socializing the losses as usual. This is socialism for Wall Street and the rich."

The good news is that Roubini is bullish about the global economy!

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