Monday, January 26, 2009

The Era of Not Getting It: The Marie Antoinettes of the Meltdown

They should spend as much money on grassroots assistance as they are in bailing out Wall Street firms and banks.

There are a lot of potential problems that can rise up when you throw so much money at these financial institutions before their internal problems are well-understood. The term "black hole" is commonly used and is appropriate. Until they fix whatever caused trillions of dollars to vanish from the market in several weeks, they need to proceed with caution.

The market is not and has never been capable of regulating itself. The system is designed to favor those who already have money and influence, and thoughtful people have long recognized that regulation and a tiered tax system were needed to prevent masses of people from becoming impoverished.

Our modern Wall Street aristocracy has been exposed, and the peasantry i.e., the middle class and the poor need to rise to the occasion or indeed, "let them eat cake!"
Read the Article at HuffingtonPost

1 comment:

Fashion, Travel, Music... said...

I love Obama.

I also love Whitley Kros (

Cat Power (she's The Greatest)

Bob Dylan (is a genius)

Beck (listen to his music on the whitley kros website)

Intelligensia Coffee (Silverlake anyone?)

Here's to 2009!

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