Blog Credo

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.

H.L. Mencken

Monday, April 4, 2016

Rich People's Money

The recent leaked documents about the super-rich offshoring their money is a better example of the different rules for the rich and everything else than anything Bernie Sanders has been saying.  You can complain about the market share of Wells Fargo all you want, and you can rail about campaign finance.

But once you get down to it, the rich simply have resources beyond resources to get away with what they want.  After 9/11, there was an effort to crack down on the shadow banking of direct cash transfers - the kind that were used to fund the attack.  Some efforts were made internationally to curb the excesses that led to the 2008 crash.

We will need the sort of international cooperation to crack down on this crap that has been sadly absent when it comes to the rich and their money.  You think the US is an oligarchy?  Go just about anywhere else and you'd be shocked.

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