Home > General Comment, Off Blog > Too failed to bail…

Too failed to bail…

Vodpod videos no longer available.

“Shameful” posted with vodpod

From Associated Press:

President Barack Obama issued a withering critique Thursday of Wall Street corporate behavior, calling it “the height of irresponsibility” for employees to be paid more than $18 billion in bonuses last year while their crumbling financial sector received a bailout from taxpayers. “It is shameful,” Obama said from the Oval Office. “And part of what we’re going to need is for the folks on Wall Street who are asking for help to show some restraint, and show some discipline, and show some sense of responsibility.”

The president’s comments, made with new Treasury Secretary Timothy Geithner at his side, came in swift response to a report that employees of the New York financial world garnered an estimated $18.4 billion in bonuses last year. The figure, from the New York state comptroller, drew prominent news coverage.

Shameful.

Outrageous.

Irresponsible.

A sum, we are told, by Jonathan Alter tonight on MSNBC‘s Countdown, that is twice the amount which will be spent on the entire national mass transit system in Barack’s stimulus package.

By way of contrast: The Moron stood silent as contractor built showers for soldiers in Iraq electrocuted them.

Service men who were risking their lives for his Crusade.

Not a word, not a peep.

Is there any wonder that this man, Barack, evokes such adoration among his supporters?

One thing we wish to point out, however, since we on this blog see it as our mission to to strip you of every illusion regarding Washington: We have, so far given $350 billion to these same bankers, and Barack has requested $350 billion more.

That these bankers, in turn, consider themselves so apart from the disaster they helped impose on society that they lavish themselves with bonuses, as their banks spiral across the event horizon of collapse, is simply a function of the fact that this $700 billion is being spent to salvage the assets of the very wealthiest in our society – to prevent those assets from deflating in price.

Washington has decided these banks are too big to fail, and their billionaire and institutional owners are too rich to be poor.

The arrogance shown here, and rightly denounced by the Messiah, hangs on the delusion among the wealthiest tenth of one percent of our human family that they are irreplaceable.

Sooner or later Barack will have to confront this delusion, or submit to it.

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: