The interesting thing about human nature is that even among the oppressed, people will seek supremacy, a pecking order. We human beings have great capacity for tenderness and compassion, and we’re also the meanest things in the world! And even when we are oppressed together, we will try to find some advantage or superiority over others.
“As for you, my flock, saith the Lord, I shall judge between sheep and sheep, between rams and goats. Is it not enough for you to feed on the good pasture, but you must tread down with your feet the rest of your pasture?”
In other words: Do you have to get what’s yours and at the same time mess it up for others?
This analysis is not from Occupy Wall Street: It’s from those long-haired, hippie radicals over at Bloomberg News, whose Freedom of Information Act lawsuit finally pried the bailout details out of the unwilling Fed. Turns out the banks made $13 billion in profits off the government’s sweetheart-deal interest rates, which New Deal 2.0 is calling maybe “the biggest subprime loan operation of all time.”
The contrast couldn’t be clearer: While the government swung into extreme, double-secret action to save Wall Street, it’s sitting on its hands as long-term mass unemployment hammers Main Street.
Chris Hedges' statement on Occupy Wall Street read in part:
As part of the political theater that has come to replace the legislative and judicial process, the Securities and Exchange Commission agreed to a $550 million settlement whereby Goldman Sachs admitted it showed "incomplete" information in marketing materials and that it was a "mistake" to not disclose the nature of its portfolio selection committee. This fine was a payoff to the SEC by Goldman Sachs of about four days' worth of revenue, and in return they avoided going to court. CEO Lloyd Blankfein apparently not only lied to clients, but to the subcommittee itself on April 27, 2010, when he told lawmakers: "We didn't have a massive short against the housing market, and we certainly did not bet against our clients." Yet, they did.
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Joe Biden admitted last night on The Daily Show that the billions of dollars we've spent on big bank bailouts is "socialism for the rich, and capitalism for the poor." No kidding. There's been much consternation related to the bailout of Wall Street. And even though ...