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The Mother Of All Management Buyouts
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September 24, 2008, 03:13 PM
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Martin Kelly writes from Scotland:
You`re dead right to describe the bailout as a coup - in fact, it`s worse than that; to all intents and purposes it`s a management buyout of the American financial and political systems.
And done with Other People`s Money!
I`ve been blogging about this since last Tuesday (to anyone who`s willing to listen) - there is absolutely no normative difference between the proposed operation of Paulson`s bailout and Gaetano Salvemini`s description of Mussolini`s economic theory as being that `profit is private and personal, loss is public and social`.