Word: socialistic
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...dared Bush to veto it. But it's easy to see why they didn't: they don't want to face a populist backlash alone. Revulsion at a Wall Street bailout has crossed ideological lines, with liberals as disgusted by handouts to irresponsible bankers as conservatives are by a socialist solution to capitalist problems. On the Hill, constituent phone calls ran 100 to 1 against the Paulson plan, and most vulnerable incumbents in both parties voted against it despite all the doom-and-gloom warnings about the devastating consequences. It's times like these that call for presidential leadership...
...drama over the last week - John McCain's theatrical but ultimately unhelpful return to Washington, the anti-Socialist rants of House Republicans, the political maneuvering by Nancy Pelosi - the deal comes as something of an anticlimax. The market had already priced in the deal all last week, ignoring the Hill's histrionics, and Paulson and Bush were always adamant they were going to get a deal. So what did all the drama actually produce...
...dream too far for the bearded, gravelly voiced President, but Lula's self-confidence is understandable: he has pulled off other unlikely feats. When he was first elected in 2002, many feared that Lula and his leftist Workers' Party would trash Brazil's emerging economy by pursuing socialist policies. Instead, Lula shrewdly embraced fiscal sobriety, strengthening Brazil's currency, the real, and reforming a bloated civil service pension system. Those policies and a windfall in commodities fueled a boom--the economy will grow 5% or more again this year, and inflation is historically low. Even his rivals acknowledge that despite...
...enact democratic policies more effectively in the future. “Let me be clear: Latin America’s democratic regimes are still afflicted by many shortcomings because institutions are not as strong as they should be,” she said. Bachelet, a member of the Chilean Socialist Party, emphasized the need to combat economic and ethnic inequality in Latin America. “I’m convinced that inequality comes from the crib,” Bachelet said. “You have to give a child the best conditions from when they?...
...freer market system under European Union rules, even as it struggles to preserve parts of its vaunted welfare state. Over the past decade, millions of French citizens became first-time shareholders following a huge wave of privatizations, the bulk of them carried out in the late 1990s by a Socialist-led government. Meanwhile, once-modest executive compensation - long cited as proof of France's more egalitarian approach - has skyrocketed in recent years; in 2007 alone, pay for French top executives soared by an estimated 58%, according to the French business weekly L'Expansion. Another recent study, by the Hay group...