Lords of Disorder: Billions For Wall Street, Sacrifice For Everyone Else

[freefalldolphin 0]

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The $83 billion subsidy for America’s ten biggest banks first appeared in an editorial from Bloomberg News – which, as the creation of New York’s billionaire mayor Michael Bloomberg, is hardly a lefty outfit. That editorial drew upon sound economic analyses to estimate the value of the US government’s implicit promise to bail these banks out.

Then it showed that, without that advantage, these banks would not be making a profit at all.

That means that all of those banks’ CEOs, men (they’re all men) who preen and strut before the cameras and lecture Washington on its profligacy, would not only have lost their jobs and fortunes in 2008 because of their incompetence – they would probably lose their jobs again today.

Tell that to Jamie Dimon of JPMorgan Chase, or Lloyd Blankfein of Goldman Sachs, both of whom have told us it’s imperative that we cut social programs for the elderly and disabled to “save our economy.” The elderly and disabled have paid for those programs – just as they paid to rescue Jamie Dimon and Lloyd Blankfein, and just as they implicitly continue to pay for that rescue today.

Dimon, Blankfein and their peers are like the grandees of imperial Spain and Portugal. They’ve been given great wealth and great power over others, not through native ability but by the largesse of the Throne.

http://www.commondreams.org/view/2013/02/27-5

[weekender 0]

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The $83 billion subsidy for America’s ten biggest banks first appeared in an editorial from Bloomberg News – which, as the creation of New York’s billionaire mayor Michael Bloomberg, is hardly a lefty outfit. That editorial drew upon sound economic analyses to estimate the value of the US government’s implicit promise to bail these banks out.

Then it showed that, without that advantage, these banks would not be making a profit at all.

That means that all of those banks’ CEOs, men (they’re all men) who preen and strut before the cameras and lecture Washington on its profligacy, would not only have lost their jobs and fortunes in 2008 because of their incompetence – they would probably lose their jobs again today.

Tell that to Jamie Dimon of JPMorgan Chase, or Lloyd Blankfein of Goldman Sachs, both of whom have told us it’s imperative that we cut social programs for the elderly and disabled to “save our economy.” The elderly and disabled have paid for those programs – just as they paid to rescue Jamie Dimon and Lloyd Blankfein, and just as they implicitly continue to pay for that rescue today.

Dimon, Blankfein and their peers are like the grandees of imperial Spain and Portugal. They’ve been given great wealth and great power over others, not through native ability but by the largesse of the Throne.

http://www.commondreams.org/view/2013/02/27-5

please show me where they said its imperative to cut social programs for the elderly and disabled.

for those rational enough to care, Lloyd B is a registered Democrat and supporter of the party. He is open about this and his support of the Clintons. Jamie is a long time Dem supporter and was once considered a replacement for Geitner. he is openly critical of Obama but that does not make him a Republican. I cannot say for sure but assume he too is a Clinton fan. She is quite popular with bankers for many reason i could discuss if anyone cared.

I know this goes against all that is holy but alot of bankers are Dem's. They live in one of the most Blue area's in the country. Most people are Dem's in the NY area.

anyone care to guess the only party my wife and I have ever been a member of? i know the crazies will not believe me but i hope the more reasonable people understand the world is not so black and white. You can work in finance and be very socially liberal. so much so that you cannot affiliate with the party that seems more fiscally conservative. SEEMS is the key word.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[kallend 2,150]

What exactly do you expect? The super-wealthy have bought and paid for our government, and the Supreme Court justices appointed by that government have only increased the potential for the super-wealthy to continue doing it.

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The only sure way to survive a canopy collision is not to have one.

[freefalldolphin 0]

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What exactly do you expect? The super-wealthy have bought and paid for our government, and the Supreme Court justices appointed by that government have only increased the potential for the super-wealthy to continue doing it.

The super rich definitely have the upper hand.

[rushmc 23]

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What exactly do you expect? The super-wealthy have bought and paid for our government, and the Supreme Court justices appointed by that government have only increased the potential for the super-wealthy to continue doing it.

The super rich definitely have the upper hand.

I find it very amusing when the ultra left socialist like to whine about what they dont have

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[freefalldolphin 0]

The super rich are a tiny minority.

[rushmc 23]

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The super rich are a tiny minority.

I know

and you are among the whinny many

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[freefalldolphin 0]

But they do have an awful lot of money. You like money.

[rushmc 23]

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But they do have an awful lot of money. You like money.

Ya

The money I earn

But I dont think I am entittled to others money

You know

Like you do

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[freefalldolphin 0]

You pay your tribute to them quite willingly.

[rushmc 23]

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You pay your tribute to them quite willingly.

You have fun with yourself

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln