Summary
WASHINGTON - Have you noticed that one of the Obama administration's most successful programs is also its most "socialist" initiative?
OK, the bailout of General Motors and Chrysler was not socialist in the classic sense: the government was not looking to hold onto the companies over the long run. Their turnaround was accomplished in significant part by tough, capitalist management steps.See the full content of this document
Extract
When Socialism Came to the Rescue of Capitalism
But, yes, this was socialism - or, perhaps, "state capitalism" - because the government temporarily took substantial ownership in the companies when no one in the private sector was willing to put u...
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