Friday, March 19, 2010

If you want to punish greedsters, scamsters, fraudsters, let them eat dirt.

Interesting transcript and video from the Real News, (link) titled, "A libertarian take on the Tea Party movement. One part of the recommended piece:

JAY: Now, the tea movement gets used—I don't know how to say it now that you told me [inaudible] completely screwed me up. They've become an ally of the insurance industry, because in the name of small government, you attack any kind of health-care reform, indirectly become an ally of Wall Street, because in the name of small government you don't want regulation on Wall Street. So with the bugaboo being big government, the Wall Street, pharma, health care, and other corporate monopolies don't get touched by this movement. Don't they see the contradiction that?

WELCH: I would say: don't you see the contradiction in this? Which is that the bank bailouts, the bailouts of Wall Street, are exactly what's unpopular. That's what has caused a bunch of this. It's not—.

JAY: But why isn't the Ponzi scheme unpopular too?

WELCH: It is unpopular as well.

JAY: Well, how are they going to deal with a Wall Street that wants to sell—.

WELCH: By letting them go bankrupt. If you want to punish these people, let them fail. If you want to publish greedsters, scamsters, fraudsters, let them eat dirt.

JAY: Right, but they won't be eating dirt alone. A lot of these tea activists, tea baggers, are going to be out of work, and they should understand that.

WELCH: They're out of work now. I mean—.

JAY: Well, but when this crashes there'll be millions more.

WELCH: Well, I don't think that's a solved question. I mean, you remember when Barack Obama said we need to pass the stimulus or else, the "or else" was, you know, we might get unemployment above 8 percent. Well, they passed a stimulus, and unemployment went north of 10 percent. I think it's not solved at all.

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