Posted on 12/03/2010 1:47:43 AM PST by Scanian
All of a sudden, liberal pundits are getting worked up about the influence of Wall Street. From the concern expressed, one would think that the contributions from Goldman Sachs have suddenly dried up now that the Republicans have taken over the House of Representatives. Here's William D. Cohan in The New York Times worrying about "The Power of Failure."
"Despite the very dire consequences of the latest financial crisis that Wall Street perpetrated on the world, America cannot seem to shake its infatuation with Wall Street bankers and traders.
We continue to shower them with riches, prestige and glory...
The question is why? Why do we tolerate the questionable morality and behavior that too many on Wall Street get rewarded to exhibit?"
Perhaps the purpose of the article is merely to buttress the narrative, copyrighted by Sgt. Schultz of Hogan's Heroes, that liberals know nothing -- nothing about Fannie and Freddie. But really, what does Cohan expect? This is not that hard. Big Government equals Big Debt, and when government wants to borrow, it needs Wall Street.
It's not just the feds that need money. The United States has a huge bestiary of governments, special-purpose districts, and state and local governments, and they all need to borrow money. Whom do you think they call?
Closer to the truth is Charles Gasparino and his Bought and Paid For. He tells Shawn Macomber that Wall Street is actually not that capitalist, but that "The people at the top have political beliefs that are strongly aligned with progressivism."
(Excerpt) Read more at americanthinker.com ...
American Thinker ping.
They’re fuming now because the lobby dollars are going to the republicans. They had no problem when the dems were getting the big dollars.
The msm can DROP DEAD for all I care.
The liberals wish to KILL capitalism by killing Wall Street. And after society collapses, they’ll be blaming everyone but themselves (their favorite pastime). Same as the housing bubble. In an effort to make “housing affordable”, they hatched a scheme to facilitate lower income people to have a way to get their dream house. The only hitch was they couldn’t afford it. And when it all blew up, they blamed everyone except the real perpetrators.
“Dems Fume over Wall Street Trillions”
Pot calling the kettle black.
Any sympathy I might have had for Wall Street evaporated when my tax dollars were used to bail out failed banks. Wall Street is as elitist as any liberal: they want to keep the profits they make when times are good but they feel entitled to government bailouts when things go bad. Privatized gains and socialized losses are what got us into this mess in the first place. You can’t have it both ways, folks. I have a similar contempt for corporate CEOs who get “golden parachute” benefit packages while their companies file for bankruptcy; a captain should go down with his ship.
Personally, I favor a return to capitalism dominated by small, family-owned businesses. That’s the kind of economy that made America great and I believe that’s the kind of economy we need to restore our country to its former prestige. I only hope it’s not too late.
Exactly. Wall street deserves to be bulldozed.
Right on!...The liberal mind tries to sidestep every “natural law” known to man in their rush to Utopia....Always with the same results...
Sisyphus would be proud...
M-cubed. Have you read anything about this issue at all. Have you no clue. Do you know anything about the securitization of mortgages and the results of the esoteric financial instruments produced by Wall St. played in this debacle?
Do you have any clue about the Feds easy money policies and their effect on housing prices?
Do you just parrot what some talk show host says?
The liberals are not the “rich” folks, they are the “super-duper rich” as in George Soros. They are bored with their lives because they do not work. Their idle minds need something to do, so, they find entertainment in their push to rule the world. The only nation really standing in their way is the US and the religion standing in their way is Christianity (”Thou shall have no other Gods before me.” Exodus 20:3) This is why they want us collapsed. They do not care about any form of government..They want POWER over all the people in every nation so that, ultimately, they can say who lives and who dies, and, who knows, if they get what they passionately want, they might again feed us to the Lions if their current form of entertainment stops working. This is my opinion after watching the Progressives get more and more corrupt over the course of my adulthood. With Obama, they think their time has arrived.
Liberals were not the only culprits in the housing meltdown. Wall street banksters were equally culpable in the mess we are in.
If the relevations of the federal reserve were not enough to convince you what a cancer wall street has become, nothing will.
Oh, I agree that Wall Street is a cancer and that cancer is directly connected to the super-duper rich who now influence political power as never before.
I’ve long said that Big Business is no less dangerous than Big Government when it comes to its threat to the founding principles of this nation.
Wall street gangsterism enables big govt and vice versa. Currently, they are crowding out lending in the real economy and its hurting employment.
Seeing the bonuses these pigs are getting this year is disgusting and in my mind highly immoral.
That’s the beauty of it. As long as everybody is culpable, nobody is held accountable. We all get to sit back like 5-year olds and scream “THEY DO IT TOO!”. And so they keep doing it.
I’m not that mode as I would allow wall street to fail, slash the govt by 70 percent and allow a real economy to grow instead of the ponzinomics we have now.
The new Congress should immediately take steps to reduce the damage done.
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