Bail-out Quotes

Austerity measures constitute retrogression in human rights, in contravention of articles 2 and 5 of the International Covenant on Economic, Social and Cultural Rights, imposed top-down and never legitimized by popular referendum. Moreover, the "bail-out” of the banking system was undemocratic and inequitable because a "private debt” was rescued through public money, namely, by increasing the public debt, at the expense of social justice. The general feeling of malaise was expressed in the statement that Governments seem to have adopted the elitist view that "banks are too big to fail and bankers too big to jail”, concern being expressed about the dangers of privatization of essential services, including water, and the widespread phenomenon of privatizing profit and socializing cost. (Alfred de Zayas)
In an ever-advancing spiral the public was made to believe that only Hollywood-style extravaganzas were worth seeing and that only they could give an accurate sense of the world of art. The resulting box-office pressure made the museums still more dependent on corporate funding. Then came the recessions of the 1970s and 1980s. Many individual donors could no longer contribute at the accustomed rate, and inflation eroded the purchasing power of funds. To compound the financial problems, many governments, facing huge deficits-often due to sizable expansions of military budgets-cut their support for social services as well as their arts funding. Again museums felt they had no choice but to turn to corporation for a bail-out. View quote
Hans Haacke