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That economic aberration that allows private businesses, usually big corporations, to reap the profits of their financial successes while ensuring that the losses of their failures will be born by The People in the form of taxpayer-funded handouts.
Usually considered as an outgrowth of “Reaganomics,” Republican Socialism came into its own during the economic crisis of 2008-09, which was spawned by the anti-regulatory fervor of the George W. Bush administration.
The Secretary of the Treasury today awarded another round of Republican Socialism to several banks in the form of a $20 billion stimulus package.
by mlcred April 10, 2009
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