Remember that the failing banks got ‘free stuff,’ too

In response to James McCusker’s Dec. 1 column (“Will ‘free stuff’ tempt Americans to try socialism”): He’s worried about the new wave of congressional representatives declaring to be socialists, not free market capitalists.

We seem to have forgotten that the free market capitalism system failed in 2008. We ended up socializing the banksters with free money from us. We the people had to give all of them “free stuff” to keep the economy from collapsing; socialism for the rich, austerity and strict capitalism for the masses. No CEO went to jail, and they later gave their senior executives bonuses.

During the buildup, Federal Reserve Chairman Alan Greenspan told us the markets would correct themselves. He was wrong, they didn’t. He also confessed later under oath that his “theory was flawed.”

A social democracy is where “we the people” decide how our money is spent. (A nurturing society, where we take care of one another)

Free market capitalism pits each of us against each other. If you actually care about the rest of us (including the least of us) you might want those social programs that serve their interests (Social Security, Medicare for all, free college, roads, bridges, libraries, public utilities, clean water, clean air, and more.

All of these are social programs that the “free marketers” would like to privatize.

We can do better, stay informed. Don’t believe everything they say. There are thousand of writers from think tanks that want to persuade or confuse you.

Patrick Rainsberger

Snohomish

Talk to us

More in Opinion

Editorial: It’s not just baseball that we may have to wait for

The AquaSox season is canceled. But if we don’t get a grip on COVID, we risk losing much more.

Schwab: Trump’s bad, but Barr ties to make it all look legal

The AG’s bowdlerizing of the Mueller report was just the first in Barr’s parade of DOJ injustices.

Appreciated John Lovick’s virtual address to Lake Stevens grads

For the graduating class of 2020, instead of getting a big ceremony,… Continue reading

Editorial cartoons for Friday, July 3

A sketchy look at the news of the day.… Continue reading

Editorial: Everett police reforms a template for others

The department’s response to an on-camera arrest shows the value of its recent reforms in policing.

Editorial: YMCA, Boys & Girls keeping campers happy this summer

Summer camp is back, with some changes and a new program to help kids cope with the pandemic.

Editorial: Stopping COVID is now up to each of us

With a resurgence threatening, we need to take greater responsibility to keep the virus in check.

Commentary: GOP may regret deal made for Trump judges

More than 200 Trump-nominated judges will be seated, but that’s not as impressive as it sounds.

Most Read