"Each time, the taxpayer is called on to bail out those who created the crisis, increasingly the major financial institutions. In a capitalist economy, you wouldn't do that. In a capitalist system, that would wipe out the investors who made risky investments. But the rich and powerful, they don't want a capitalist system. They want to be able to run to the “nanny state” as soon as they're in trouble, and get bailed out by the taxpayer. They're given a government insurance policy, which means that no matter how often you risk everything, if you get in trouble, the public will bail you out because you're too big to fail — and it's just repeating over and over again."
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Academics from the United StatesHistorians from the United StatesJews from the United StatesLinguists from the United StatesSocial anarchists
Original Language: English
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Quoted by Bill Moyers in In His New Book, Noam Chomsky Takes a Look at Income Inequality, (11 May 2017)
https://en.wikiquote.org/wiki/Noam_Chomsky
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Noam Chomsky
philosopher, linguist, political writer
1928 · United States
US-amerikanischer Sprachwissenschaftler und Autor
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