The day after the passage of TARP, October 4, 2008, the World - TopicsExpress

The day after the passage of TARP, October 4, 2008, the World Socialist Web Site offered the following analysis: “The [Bush] administration has invoked the worst economic crisis since the Great Depression in an attempt to terrorize the American people into accepting the greatest transfer of public resources to the financial elite in history…[The bailout] will facilitate an ever-greater concentration of wealth that can only produce a drastic deterioration of living conditions and the undermining of basic democratic rights.” Six years later, not a word of this assessment needs to be revised, except for changing the future tense to the past.

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