Bernie Sanders is Still Blaming Capitalism for the Problems of Cronyism

[ABX]

If you listen to the likes of Bernie Sanders and other socialists, you’ve probably heard how Wall Street and the Big Banks have stolen countless millions from the American people. Sanders wants to blame this monumental corruption on capitalism. I say not so fast.

Sanders is right that the Big Banks and Wall Street, and especially the executives that run them, have been the beneficiaries of billions of dollars stolen from the American people. But he is wrong about who stole that money in the first place. And he is also wrong to lay the blame at the feet of capitalism.

It was not capitalism that caused the financial crisis and the Great Recession. It was government intervention. Having caused the real estate bubble in the first place by encouraging banks to underwrite mortgages for families who couldn’t afford houses, the civil government then made good on their larcenous promises by bailing out those irresponsible banks after the real estate bubble burst. With our money. If anyone needs to return money it has stolen, it’s the federal government.....

http://eaglerising.com/29076/bernie-sanders-is-still-blaming-capitalism-for-the-problems-of-cronyism/