Aug 1, 2008

Nouriel Roubini on the Treasury plan to bail out Fannie Mae and Freddie Mac

The treasury bail-out plan (the mother of all moral hazard social bail-outs) is socialism for the rich, well-connected, and Wall Street. It is the continuation of a corrupt system where profits are privatized and losses are socialized.

~ Nouriel Roubini, RGE Moniter, July 2008

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