Credit Crisis

I was watching CNBC today when I heard one of the guest today use the term “socialize the losses” when talking about bailing out the auto industry. Of course we all know that he is right and that’s what the US government has done with the Financial industry and are now looking towards the auto industry to do the same thing. But he said it with such a negative connotation that it really caught my eye. I know free market idealist have really been bashing the bailout and so have people on the other side such as writer Naomi Klein with her new article in Rolling Stone “The new trough“.