In fairness to those who accepted government largess, it was offered to them, they didn't take it by force. They don't even get a vote.
Nothing fair about the Sec Treas, a former head of Goldman Sachs, coordinating the bailout of his former investment bank.
Both political parties are awash in campaign donations from Wall St firms, so they DEFINITELY get a "vote" when they finance the actual campaigns.
Additionally, when we look at the 2005 bankruptcy law revisions, we see exactly how something like MF Global can happen, resulting in the outright theft of individual depositor accounts for the purpose of bailing out the corporate trading losses.
golemxiv.co.uk
The reality is that the only way the TBTF banks are sustaining themselves is because they are getting cheap money from the Fed and then investing it in Treasury debt yielding 2-3%.
And yes.. governments do extract money from their citizens, which is why the only truly legitimate form of government is a democratic one. At least under such a form of government, the people have the choice of changing it, either through a vote, or if required, by revolt (the real reason we have the 2nd amendment).
Bottom line here.. Our government is increasingly (and blatantly) being controlled by monopolist corporate interests and the US taxpayer is being put on the hook for their BS. We're being held economically hostage to their casino gambling.
Look at how many people we have on Food stamps now in the US. over 10% of the population. We have nearly 19% real unemployment, yet we don't count many of them because their benefits ran out.
That's enough to give anyone a WTF epiphany when we see Wall St. bankers doling out bonuses paid for by the US Taxpayer (either via TARP or interest paid on US T-Bonds).
Hawk |
