Reports have it that the Federal Reserve System, in short the U.S. government through its financial arm, will apply conservatorship on the collapsing insurance giant, American International Group (AIG). This means that the government will temporarily take over from major shareholders and their top directors and managers but will relinquish control back to these people. Or else, the Fed will plow new bridge loans to AIG.

Either way, this is another bailout. Again, it is the poor and middle-class taxpayers who pay for this. Again, despite the pretense that America has a free enterprise system, where capitalists are supposed to be made to pay for their inefficiency, the government allows these top shareholders, directors and managers to shirk their accountability. Worse, it pushes the taxpayers to reward these big capitalists with a bailout and financial lifeline.

Time for real change! Let us poor and middle tax-payers stop the Fed bail out of Wall Street! If ever, have the public take over through public receivership, or better, permanent expropriation of the collapsing dominoes of Wall Street with a real permanent expropriation and public management instead of punishing the people and the tax paying public with a bail-out of the private interests of Wall Street! Time for public control and management of the financial system! Time to stop the public bail-out of the failed private wealth and interest! Time for real socialism! Time for real change!

I agree.

But how do we do it?

I wish some of the socialist web sites would address the question of how physically and legally do we get from here to there.

My idea would be that we let everything go bankrupt and start over. However, saying that leaves unanswered how it would happen.

Typical socialist, you know nothing! AIG was stolen by the feds in order to prop up the corrupt, inherently bankrupt fractional reserve system, and all its expansive network of faulty credit. We shareholders were all but wiped out. How dare you (idiotically) speak of a bailout of private wealth! Our private wealth was stolen to protect the international financial system, which would not need protection if built on a gold standard. The govt stole a trillion dollars of shareholder wealth in a viable company with short term liquidity problems caused by arcane, irrational, govt-imposed accounting rules. This was among the very most shameful episodes in US history.

Typical socialist, you know nothing! AIG was stolen by the feds in order to prop up the corrupt, inherently bankrupt fractional reserve system, and all its expansive network of faulty credit. We shareholders were all but wiped out. How dare you (idiotically) speak of a bailout of private wealth! Our private wealth was stolen to protect the international financial system, which would not need protection if built on a gold standard. The govt stole a trillion dollars of shareholder wealth in a viable company with short term liquidity problems caused by arcane, irrational, govt-imposed accounting rules. This was among the very most shameful episodes in US history.

It wasn't 'the government' it was the banking system run by the central bank which is owned privatly.

Not 'the govenment'.

Please get real. All of us have been, are being ripped off as the value of our currency is watered down to prop up a criminal financial system. They pocket the profits and then put the bill on us with out our consent, when called out on the crime.

If you think that the US government is here to fix problems (economic, social, etc.) then you are a socialist. Left or right, a socialist.

If you think government is here to protect the ctizens lives rights and property, as the constitution sez is the job of the US goverment, then you not a socialist.

How screwed up is it when CHANGE is to respect the constitution and NOT enslaving your fellow Americans for your own pocket or your own utopian dreams?