"The top 1 per cent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn't seem to have bought: an understanding that their fate is bound up with how the other 99 per cent live. Throughout history, this is something that the top 1 per cent eventually do learn.
Too Late."
--- Joseph Stiglitz
"The American Dream was the life that this guy led. He worked his way up to a decent life where he could own a house and raise his children and retire when he reached old age. Now people like him are being attacked as the enemy. In other words, Americans are turning on themselves. Hopefully they'll figure out that they're being played before it's too late."
" ... the rest were slaves in fact, but without the name; they imagined themselves men and freemen, and called themselves so. The truth was, the nation as a body was in the world for one object, and one only: to grovel before king and Church and noble; to slave for them, sweat blood for them, starve that they might be fed, work that they might play, drink misery to the dregs that they might be happy, go naked that they might wear silks and jewels, pay taxes that they might be spared from paying them, be familiar all their lives with the degrading language and postures of adulation that they might walk in pride and think themselves the gods of this world. And for all this, the thanks they got were cuffs and contempt; and so poor-spirited were they that they took even this sort of attention as an honor."
-- A CONNECTICUT YANKEE IN KING ARTHUR'S COURT by MARK TWAIN (Samuel L. Clemens) Part 2., Chapter 8
... I'm not convinced that it isn't really a case of the financial elites seeing the opportunity to drastically cut --- excuse me "reform" --- the welfare state and going for it. Unfortunately, as we know, people and economies don't always heal properly when in terrible pain, so while they may cut out the hated safety net they could end up killing the patient.One never knows but if the turmoil is extreme, perhaps a few Marie Antoinette's may also pay the price. When the 'shared' pain is deliberate, vindictive and disproportionate it just isn't surprising that visions of revenge can override sense. After all the victims will only need to look to the 'elites' for the pattern.
'Start lending,' Obama tells the bankers
------------------------------------"We Were There For Them"
by digby
Understatement of the century:
When I asked top White House economic advisor Larry Summers if the President needs to encourage banks to do more lending, he told me that bankers “need to recognize that they've got obligations to the country after all that's been done for them, and there is a lot more they can do.”
Tomorrow, the President will meet with heads of the country’s biggest banks and Summers told me the White House has a blunt message: “President Obama is going to be talking with them about what they can do to support enhanced lending to customers across the country.
"We were there for them. And the banks need to do everything they can to be sure they're there for customers across this country.”
They sure were.
But I'm afraid that Summers is willfully misrepresenting his banker pals' moral philosophy which says that they are "fulfilling their obligations" by making huge profits and giving themselves enormous bonuses. They are the productive members of society who are supporting all of us parasites with their superior talents and stronger work ethic. "We have to tolerate the inequality" of giving bankers huge paychecks in order "to achieve greater prosperity and opportunity for all.” In fact, they are doing God's work. Profits, after all, are not satanic.
It's nice that the president is going to scold these people about not being greedy bastards, but I'm fairly sure that after everything that's already happened, the bankers will be trying hard to keep from smirking and the rest of the country will roll its collective eyes at the absurdity of appealing to their sense of gratitude and fair play. It's just a little bit late for anyone to take finger wagging seriously, I'm afraid.
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learn more about your new card right now, click here ...I copied the link address, went into another browser and attempted to go there. The there transfers me to their signup page, which I certainly don't need to see again.
"Was this email helpful? Please click here to give us your feedback."In this case opened a new window with the offered address in the same browser in which I was viewing the email. Didn't work.
Bailed-Out Chase CEO Dimon: People Should Pay Mortgages "Even If They're Underwater"Where were those guillotines stored?
Social Security, Medicare Reform to Get an “Up or Down” VoteYou tell me! All sign are that Obama plans to allow the people that destroyed the financial world keep their wealth, but plans to come after seniors and the sick.
Looting Social Security by William Greider
Social Security is still under attack. Democrats are giving Obama way too much benefit of the doubt about his stance on SS. Obama is a politician, not a statesman. He has too much of his life ahead of him to take stands for the good of the country alone (Constitutionally he is a failure)."When official America talks of 'bipartisan compromise,' it usually means the people are about to get screwed."
Obama and liberals: a counter-productive relationship--------------------------------------
"Obama said that he has made clear to his advisers that some of the difficult choices--particularly in regards to entitlement programs like Social Security and Medicare - should be made on his watch. "We've kicked this can down the road and now we are at the end of the road," he said."... and then puts daylight to Obama's actions ...
This is not just something he didn't run on. It is, in fact, the exact opposite of what he ran on-or at least appeared to ...
[...]
Not only is Obama's "fiscal responsibility" kick at odds with his actual mandate and his own health care proposals, it reflects a deeply ideological worldview that--far from being bipartisan or "post-partisan"--is strongly opposed by solid majorities across the political spectrum. It is the very essence of Versailles insiderism.
