Wed Feb 27, 2013, 04:52 PM
tpsbmam (3,927 posts)
Lords of Disorder: Billions For Wall Street, Sacrifice For Everyone Else
The President’s “sequester” offer slashes non-defense spending by $830 billion over the next ten years. That happens to be the precise amount we’re implicitly giving Wall Street’s biggest banks over the same time period.
We’re collecting nothing from the big banks in return for our generosity. Instead we’re demanding sacrifice from the elderly, the disabled, the poor, the young, the middle class – pretty much everybody, in fact, who isn’t “too big to fail.”
That’s injustice on a medieval scale, served up with a medieval caste-privilege flavor. The only difference is that nowadays injustices are presented with spreadsheets and PowerPoints, rather than with scrolls and trumpets and kingly proclamations.
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.
The above comes from an awesome opinion piece by Richard Eskow at The Campaign for America's Future blog. I urge you to read the whole piece -- I had a hell of a time picking out what to post here.
As a reminder, the Wall Street money he's referring to came from that incredible Bloomberg editorial Why Should Taxpayers Give Big Banks $83 Billion a Year? http://www.bloomberg.com/news/2013-02-20/why-should-taxpayers-give-big-banks-83-billion-a-year-.html
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