General Discussion
In reply to the discussion: Social Security belongs to the American people. It is not Obama's to bargain with. [View all]Fuddnik
(8,846 posts)All Wall Street thieves and Goldman Sachs alumni.
http://www.alternet.org/147-people-destroying-world
March 25, 2013 |
Can 147 people perpetuate economic injustice and make it even worse? Can they subvert the workings of democracy, both abroad and here in the United States? Can 147 people hijack the global economy, plunder the environment, build a world for themselves that serves the few and deprives the many?
There must be some explanation for last weeks economic madness. Take a look:
Cyprus: The European Union acted destructively and self-destructively when it tried to seize a portion of the insured savings accounts of the citizens of Cyprus. They were telling anyone with a savings account in the financially troubled nations of the Eurozone: Forget your guaranteed deposits. If we need your money in order to bail out the big banks banks which have already gambled recklessly with it well take it.
That didnt just create a political firestorm in Cyprus. It threatened the European Unions banking system, and perhaps the Union itself. The fact that the tax on deposits has been partially retracted doesnt change the basic question: What were they thinking?
The Grand Bargain: The President and Congressional Republicans reportedly moved closer to a deal that would cut Social Security and Medicare while raising taxes mostly on the middle class without doing more to create jobs. A Grand Bargain like that would run counter to both public opinion and informed economic judgement.
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