Wednesday, January 30, 2008

Vince Cable, Northern Rock and fascism

From The Devil's Kitchen:
I am wondering whether anyone else has noticed the similarity between Vince Cable's comment on Northern Rock, that "(t)he taxpayer is standing behind the taxpayer and we have a private sector solution without private money as well as nationalisation of liabilities and losses and privatisation of profits" and Gaetano Salvemini's description of Italian fascist economic policy, that "the State pays for the blunders of private enterprise... Profit is private and individual. Loss is public and social."

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