Crony Socialism:
Your Tax Dollars at Work

Bush is about to hand hundreds of millions of dollars of taxpayer money to his old pals from...wait for it...Enron! Yes, that's right: top dogs from one of the largest corporate con jobs in the history of the world have been given that amount in government-backed "loan guarantees" to build a$2.8 billion energy plant in the hills of Colorado. And if the plant goes belly-up (and we are talking about the deadbeat boys from Enron here), Bush's pals (and financial patrons) won't have to pay back one thin dime of the loans. That will be left to those eternal suckers, the American people. This backdoor bagman drop is buried certain fathoms deep in the 700-page porkapalooza known as the energy bill, now being "debated"-- i.e., crammed with last-minute swag for "special friends" -- in the Senate.

Thus we have yet another perfect example of Crony Socialism, Bush style: the risks are socialized, the profits are privatized -- and the suckers get it in the neck.

Here's the story, from Public Citizen, via Buzzflash.

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