Democrats urge federal stake in big auto companies - Yahoo! News
ABC News – Automakers in the Hole
WASHINGTON – Congressional Democrats are pushing legislation to send $25 billion in emergency loans to the beleaguered auto industry in exchange for a government ownership stake in the Big Three car companies.
House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., hope for quick passage of the auto bailout during a postelection session that begins Monday.
What can we call this move? Well, how about:
socialism definition | Dictionary.com
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so·cial·ism (sō’shə-lĭz’əm) Pronunciation Key
n.1. Any of various theories or systems of social organization in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy.
I’m not sure that selling cars made by government workers is going to do a great deal - or even a new deal - for the American auto industry. It will probably be great for their new government pensions, though.
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