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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGangster CEO cabal lobbies Congress for austerity
via truthdig:
What Capitalists Want for Christmas
Posted on Nov 22, 2012
A group of CEOs led by Macys Terry Lundgren calling itself the Fix the Debt coalition is hoping for a deficit-busting austerity budget this holiday seasonnot a program to create American jobs.
Why? Because high unemployment keeps their workers in check by driving up competition for jobs, writes Lynn Stuart Parramore at AlterNet. To that end, the executives are holding town halls, lobbying members of Congress and otherwise throwing their weight around.
The 1 percenters involved in Fix the Debt include Lloyd Blankfein, chairman and CEO, Goldman, Sachs & Co.; James Gorman, chairman, president and CEO, Morgan Stanley; Jamie Dimon, chairman and CEO, JPMorgan Chase & Co.; Jeffrey Immelt, chairman and CEO, General Electric Co.; Brian T. Moynihan, president and CEO, Bank of America Corp.; and Josh Bekenstein, managing director, Bain Capital.
Posted by Alexander Reed Kelly.
Lynn Stuart Parramore at AlterNet:
Lundgren and a coalition of other big-time CEOs are lobbying Congress to cut Medicare, Medicaid and Social Security benefits so that they can enjoy tax breaks. Obviously, Lundgren did not take Econ 101, which would have demonstrated to him that reaching into the pockets of people will leave them without enough dollars to buy your products. Its very simple, Mr. Lundgren. Your job and your stores are supported by the spending power of the American consumer. Robbing that consumer by hacking away at hard-earned retirements and healthcare is not going to help your bottom line.
Jobs, not austerity, is the path to a healthier economy. Just ask Europe.
Read more
http://www.truthdig.com/eartotheground/item/what_capitalists_want_for_christmas_20121122/
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Gangster CEO cabal lobbies Congress for austerity (Original Post)
marmar
Nov 2012
OP
orpupilofnature57
(15,472 posts)1. Misanthropic Sycophant Monsters.... Are worse than terrorists .
Especially when we give them bonuses for being that way .
safeinOhio
(32,641 posts)2. As someone on DU said.....
capitalism has run it's course.
IDemo
(16,926 posts)3. This entire crew needs to be on a chain gang
Since that's what they seek for the American citizen.