The Oligarchy

[lovemydog]

60. Did the government make the money back?

Was the government repaid with interest? Why didn't the government demand that these types of bonuses cannot be paid? Why didn't the government present a stronger negotiating position to demand that instead of paying these insane bonuses, that the money would be used to pay down the deficit (or half for the deficit and half to fund social security more effectively or take your pick)? Isn't this precisely the 'shock doctrine' or 'disaster capitalism' that Naomi Klein and Thomas Piketty, to name a few, have discussed? What would have happened if we hadn't bailed out those banks? How can we prevent this 'too big to fail' bullshit from ever happening again?

These are sincere questions. I believe in breaking up the big banks. I'm not trying to make an argument or score political points. I don't quibble about the term oligarchy. I believe there are elements of an oligarchy at play in our country. I know there's something going on arguing about the word oligarchy here, but I'm not part of that argument. There are also forms of representative democracy when an active engaged informed citizenry exercises its right to vote. The effects are most dramatic on a local and State level, where small numbers of people voting can dramatically affect the outcome.