n2doc
n2doc's JournalToon: GOP Philosophy in Action
Toles Rant- Billionaires
By Tom Toles
The Forbes billionaire list is out again, designed, I think, to make sure that when we tote up all the money we will earn in our lives well see that its a pittance and our efforts are relatively pointless, as judged by the marketplace. Unless, I guess, youre one of those people who likes to fantasize about being somebody else and just PRETEND youre them. Im not one of those. Are you?
I actually will confess to a significant resentment about somebody so totally dwarfing the rewards of my efforts over my whole lifetime. Its not exactly envy. Its more like indignation. Ive done fine. More than fine. But call it envy, if you want. Or politicize it and call it class envy. Call it class resentment. Call it class warfare. I dont care what you call it, I feel it anyway. I doubt Im the only one. But if so, feel free to click away to another blog somewhere and feel sorry for my cramped, jealous heart. You can say that the system merely rewards the brilliance of the select and rewards them in proportion to their brilliance. Its the second half of that that is the harder part to swallow. Billions? Really? Tell me which of these brilliants delivered outcomes that would not have happened in some form without them. Steve Jobs comes closest. The rest? Make your case.
I dont think its encouraging to people to see the rewards system so astronomically out of whack. Maybe somebody who works two or three difficult jobs for paltry wages and no benefits and no security and no thanks is getting exactly what they deserve. Maybe. And maybe so for the billionaires. Maybe they deserve those billions and our worship too, thank you Forbes. I think its crazy and wrong and I pretty much hate it.
http://www.washingtonpost.com/blogs/tom-toles/post/billionaires/2013/03/05/c8de851a-85b8-11e2-999e-5f8e0410cb9d_blog.html
Holder admits Banks are 'too big to charge'
Holder: Big banks' size complicates prosecution efforts
By Peter Schroeder - 03/06/13 02:00 PM ET
Attorney General Eric Holder suggested Wednesday that some financial institutions have become too large and are escaping full-fledged prosecution as a result.
Testifying before the Senate Judiciary Committee, Holder told lawmakers that he is concerned that some institutions have become so massive and influential that bringing criminal charges against them could imperil the financial system and the broader economy. His remarks come as a growing number of lawmakers have suggested that big banks are, effectively, "too big to jail."
"I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy," he said. "And I think that is a function of the fact that some of these institutions have become too large."
He suggested that prior attempts to bring enforcement against banks may have been stifled by their outsize influence, saying it has an "inhibiting influence ... on our ability to bring resolutions that I think would be more appropriate."
Read more: http://thehill.com/blogs/on-the-money/banking-financial-institutions/286583-holder-big-banks-size-complicates-prosecution-efforts
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