“We’re All Communists Now”
CNBC Analysts: Wall Street Bailouts Mean ‘Socialism,’ ‘Communists’
‘Mad Money’ host Cramer says government has engaged in Marxist philosophies after AIG bailout.
By Jeff Poor
Business & Media Institute
9/17/2008 12:01:16 PM
The federal government’s intervention and prevention of the collapse of American International Group (AIG) represents an acceptance of Marxist philosophies, according to some CNBC analysts.
“They never made the real calls, they never made the tough decisions,” CNBC “Mad Money” host Jim Cramer said on MSNBC’s “Morning Joe” September 17 of financial leaders.
“Their ideology was such they believed everyone should own a home including people who were deadbeats and had no right to own a home. They were anti-regulation. Now we have spent $900 billion bailing out these institutions and in a twist on what Nixon said after the seizure last night of AIG and Fannie Mae – we’re all communists now.”