After The Bailouts -- A New Economic Paradigm

Think past today and picture the economic world after this crisis is over. Our economic paradigm will necessarily be different.

There is no longer the mask of calling something a "private" company. We have finally acknowledged the interlinked and interdependent nature of our economy in which many kinds of large companies play crucial roles. These components of our economy are resources that affect us to such a degree that they are public resources. They just are. When they affect all of us to the degree they do, so that when the crisis arrives we step in and exert the necessary control and provide the necessary backing, it demonstrates that they are in fact too important to us to allow them to fail. By the fact of these massive bailouts the mask has been removed.

Until now calling large companies "private" entities created an illusion that has worked to the benefit of a very few. By pretending they were "private" a select few received the bulk of the benefits they generated. But now the question is, since these companies are public resources whose importance requires our public intervention and infusion of massive public resources when needed, then why does this flow only go one way? Why is it public resources in, private benefits out? Why do We, the People pump our public resources into these entities, without sharing in the benefits created by these entities?

A select few end up with private jets, multiple mansions, huge yachts, and incomes in the hundreds of millions. WE don't even get health care, many of us don't even get sick or overtime pay.

The mask has fallen off. When a company grows up, it is a public resource. "Too big to fail" means public resource by definition. Whatever you want to call it, it affects us to the point where we have to prop them up.

So when do we start getting the benefits back? Who is our economy for, anyway?