Tag Archives: Washington Mutual

WaMu shares fall from $39 to $2 in one year

wallstreetThe Domino Theory at work! Next to fall- Washington Mutual. Nothing related to Vietnamese Communism at all, but to American capitalism itself.

And what does Wall Street and Washington, D.C. advocate now? Why socialism! They advocate socialism for themselves,The Rich, where profits are privatized for the super elites and losses are socialized for the poor to pay the costs of bad business dealings done by private owners. They call that ‘bailout’.

So if we are to have this form of socialism in place in the US one begins to wonder about having a much different form of Socialist Movement return to the scene, where benefits are privatized and the super rich must pay their fair costs to a society that they have been looting from? Well why not? Why should government always be benefiting only the rich, where corporate corruption allows Big Business to seize control of the government to use only for themselves?

Also, we need to ask ourselves whether Big Business will ever care for Nature? The answer seems obvious that NO it will not, since looting nature is part of the essential business ethic of making profit for owners at the expense of others (workers and Nature).

Yes, Socialism is back and we need to see that it is not the National Socialism of the rich for the rich that shall predominate, but rather Socialism of those who do the work for those who do the work, that is put into effect. Because one way or the other, it is what’s now on the agenda. After WaMu, which next? The corporate-run government is bankrupting itself to stop bankruptcy! The FDIC will have to spend another $20 billion if this bank blows bringing itself almost to the point of insolvency. The money for bailouts and bankruptcies is not endless.