The beastly, the brash, the big word, globalization.

I was hoping that this recession would do away with all the free market talk, get rid of the Chicago boys rhetoric once and for all and help build a globalized economy that protects the little guy.  While it hasn’t done all that, it has taken the stigma from “regulation” and spread it around to some other words like…Wall Street and securitization.  In hopes of permanent regulation we need to think big.  Damon Silvers, associate general counsel for the AFL-CIO, is looking to change the world market, not just the US.  What he says is sound thinking, we are more connected than ever and might as well fix all the holes at once.  Let’s see how the G8 countries feel about all this.  More importantly now though, how do American taxpayers feel about this.  As reported on AFL-CIO Now Blog, if they don’t feel taken…then they aren’t paying attention.

Silvers, associate general counsel for the AFL-CIO, says taxpayers are being asked to givie away too much to hedge funds and private equity in President Obama’s financial rescue package. The plan for public-private partnerships announced by the Treasury Department on Monday gives taxpayers 95 percent of the risk with only 50 percent of the benefits in buying the toxic assets.

Those are not the kind of odds I’m looking to play (or pay).