Naomi Klein, author of "The Shock Doctrine," was on the Rachel Maddow Show last night and brought her analysis to the TARP right front and center. Click here for the clip.
According to Klein, who also writes for The Nation, once again we are taking enormous amounts of public money to bail out private interests, i.e. the banks, the very richest, because they made a series of very bad private mistakes.
When comparing the amount of money spent on the banks with the amount of money being spent on helping individuals, and the reticence in helping individual homeowners adjust their onerous mortgages, we should be appalled. Add to that those governors who are refusing to take portions of the stimulus package to pay for additional unemployment insurance -- Rick Perry from Texas and Bobby Jindal from Louisiana, to name two -- and our heads should be spinning.
Who is claiming that Obama is really calling for socialism in his health care and jobs stimulus package? We already have redistribution of wealth, but from the public to the private sector, in the TARP. Think about it. Three trillion or more has actually gone to the banks from the Federal Reserve and TARP.
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