Left Wing or Right Wing?

TruckerT

Is the continuing government subsidisation of the banking industry a socialist policy, or is it just normal?

TruckerT

DiggerUK

T.T. The answer to your question is no.

Socialism would demand that the banks be nationalised, under common ownership, with no compensation paid to current owners.

Instead, they are being bailed out, with no chance of compensation for us.
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Derivative

Could be argued either way.

Yes, they are providing bumper profits for the banks which is going in significant portions to the staff.

However, the alternative at the moment, is the Great Depression all over again - possibly worse as we have a much higher population density now.

MacMickster

I'm not a great believer in describing policies as left or right wing (partly because some of my acquaintances would describe me as a loony lefty and others as a right wing nutter).

The bail out of the banks is equally contradictory. It could be regarded as the rich looking after the rich and maintaining their wealth and protecting the whole capitalist system. Alternatively it could be seen as a socialist, or even communist, attempt to subvert the free market.

In reality it is neither. It is a panic measure. Few politicians or economists can envisage what the consequences would/will be of allowing banks across the world go to the wall, and no politician wants to be responsible for finding out.

DiggerUK

MacMickster wrote: »

.....In reality it is neither. It is a panic measure. Few politicians or economists can envisage what the consequences would/will be of allowing banks across the world go to the wall, and no politician wants to be responsible for finding out.

Sounds like you are saying that headless chickens, are being organised by one eyed vultures.
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