What Bernie Sanders said about the elections...

[KingCharlemagne]

67. No big fan of the bailouts here -- I thought the TBTF banks should have been nationalized, their

management fired and their assets expropriated for the people -- but the suffering that would have occurred had the TBTF banks not been bailed out would have been several orders of magnitude worse than what we actually did endure. Banks had stopped lending to each other because none of them could trust the collateral other banks were using to secure overnight loans. Some sort of bailout HAD to occur to prevent such massive suffering. The question is what sort of bailout was appropriate. I favored nationalization. Instead we got this weird sort of inverted socialism where the risks were socialized (via the bailouts) but rewards remained privatized (via stock dividends and cap gains). I attribute that to the absence of a viable left here since the 1950s.