‘Socialism For The Rich’: Robert F. Kennedy Jr. Rips Democratic Party Over Bank Bailouts
Democratic presidential candidate Robert F. Kennedy Jr. said Wednesday that the Democratic Party was pushing “socialism for the rich” by backing bank bailouts.
“I think that the general theme of my speech was this corrupt merger of state and corporate power which has gotten – which is turning our country into corporate kleptocracy, into a system of socialism for the rich and a cushy socialism for the rich and this kind of brutal, merciless capitalism for the poor,” Kennedy told Fox News host Tucker Carlson, a co-founder of the Daily Caller and Daily Caller News Foundation. “It keeps us in a state of war and bails out banks at the same time.”
Treasury Secretary Janet Yellen said during Congressional testimony in March that more bank bailouts could take place to prevent “the risk of contagion.”
Kennedy pointed to the bailout for depositors at Silicon Valley Bank, which was shut down by Federal regulators Bank March 10 after its stock price collapsed and customers began a bank run, then shut down Signature Bank March 12.
“Last month, United States government told 30 million people it was cutting their welfare checks, their food stamp checks by 90%,” Kennedy said. “It took 15 million people off of Medicare. The same month, it gave $300 million to the Silicon Valley Bank and tapped up the cost of the Ukraine war to $113 billion.”
The Biden administration announced in January they would send 31 M1 Abrams main battle tanks, following a December announcement that a battery of MIM-104 Patriot surface-to-air missiles would be provided to that country.
“We’ve printed ten centuries of money in the last 14 years, and that caused the inflation which raises food [prices], which is a tax on the poor. You know, we’ve raised food prices for basic foods like chicken, dairy and milk by 76% in the last two years and now we’re cutting people’s food stamps and bailing out banks the same month?” Kennedy asked. “It’s odd. It doesn’t make any sense.”
Kennedy filed paperwork declaring his candidacy for President April 5, and formally announced his run Wednesday, according to CBS News.
“My mission over the next 18 months of this campaign and throughout my presidency will be to end the corrupt merger of state and corporate power that is threatening now to impose a new kind of corporate feudalism in our country,” Kennedy said during his announcement.
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