The cry has gone up “Unleash the private sector” to correct our floundering economy, and all I could think of was Whiskey Tango Foxtrot.
We gave the private sector the go ahead and they stole the American people blind, even betting (through derivatives) that they would screw up.
Through the misguided idea that a nation like a business should never use it’s capital but borrowed money for day to day activities. And to create that vast amount of borrowed cash our private sector started bundling mortgages and selling these little packets of the US as securities (collateral for loans).
In 2003 American jobs were disappearing at an astounding rate while the Congress and President passed laws giving tax breaks to American corporations if they would move off shore. Home foreclosures started to mount.
The American private sector (corporations) still made money hand over fist so from their point of view we were not in a financial bind
This vast amount of money that flowed up hill from American home owner; the failing mortgages started to falter finally rendering these securities as trash, entire nations had bought these things for trillions of Dollars and using this new wealth they had spent like drunken sailors, all on credit they are still going down.
The Private sector started to go under, (greed is a force that lives in all of us and with out over site we can act like a drunken Mob). The public sector our people through our Government paid the gambling losses of the private sector If we give total power to the private sector (Corporations) we will cease to exist as a notion, for the only reason for any corporation to exist is to make money, but some how these machines have been given the rights of Men and woman of our nation and deemed too big to fail.
Do not allow our nation to fail keep the power out of the hands of the private sector
