Obama administration corporate bailouts
The Obama administration corporate bailouts which occurred during the 2009 economic crises poured money into corrupt and inefficient corporate entities and decreased the efficiency and productivity of the American economy. The occurrence of the corporate bailouts by the Obama administration was not surprsing given that Wall Street firms were among Obama's biggest campaign supporters.[1] Rather than investing in corrupt and inefficient businesses due to political consideration, given the relative greater efficiency and dynamism of capitalism, the Obama administration should have allowed the capitalist forces cause a more rapid allocation of economic resources. Allowing market forces to allocate resources instead of government bureaucrats to allocate resources due to political considerations would have caused the United States economy to recover more rapidly.
Barack Obama's corporate bailouts was a form of corporate welfare. Leading trend forecaster Gerald Celente labels Obama administration corporate bailouts as being "fascism light" in nature (Benito Mussolini defined fascism as the wedding of state and corporate powers).[2][3]
External Links
- The Bank Bailouts--corporate welfarism July 09, 2009
