Canadian banks

Feb 2011
299
0
Canada
#21
Yes but they were rescued by the gov't (it's called a bailout for a reason). The price was the money for said money's worth in stock which gave the gov't a controlling share allowing them to fill all the leadership position with gov't agents. The money combined with good gov't management (which the right duly ignores) allowed them to return to profitability. As the gov't had no intention of going fascist on the economy and making these companies state property, he were ale to use said profits to buy back control.

And no, worker, not public, ownership is socialism. That's the definition of socialism, worker dictatorship and all.

SOCIALISM

A theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole (public).

Economic theory or system in which the means of production, distribution, and exchange are owned by the community collectively, usually through the state.


An economic system in which the production and distribution of goods are controlled substantially by the government rather than by private enterprise, and in which cooperation rather than competition guides economic activity. There are many varieties of socialism. Some socialists tolerate capitalism, as long as the government maintains the dominant influence over the economy; others insist on an abolition of private enterprise. All communists are socialists, but not all socialists are communists.

DUH? You may go now, feeling thoroughly OWNED.
 
Last edited:
Jul 2009
5,702
420
Opa Locka
#22
SOCIALISM

A theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.

Economic theory or system in which the means of production, distribution, and exchange are owned by the community collectively, usually through the state.


An economic system in which the production and distribution of goods are controlled substantially by the government rather than by private enterprise, and in which cooperation rather than competition guides economic activity. There are many varieties of socialism. Some socialists tolerate capitalism, as long as the government maintains the dominant influence over the economy; others insist on an abolition of private enterprise. All communists are socialists, but not all socialists are communists.

DUH? You may go now, feeling thoroughly OWNED.
:rolleyes:
 

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