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

Sunday, March 6, 2011

You Have To Cross An Ocean To Find An Honest Bankster


The Governor of the Bank of England - imagine Ben Bernanke with a funny accent - has said that:


The governor of the Bank of England said that people made unemployed and businesses bankrupted during the crisis had every reason to be resentful and voice their protest. He told the Treasury select committee that the billions spent bailing out the banks and the need for public spending cuts were the fault of the financial services sector.
"The price of this financial crisis is being borne by people who absolutely did not cause it," he said. "Now is the period when the cost is being paid, I'm surprised that the degree of public anger has not been greater than it has."


Well, yeah...  Maybe because we've been sold this BS market fundamentalism for so long that we can't see the plain truth: banksters destroyed the economy, got bailed out, and declining tax revenues from their malfeasance have "necessitated" spending cuts to those who had nothing whatsoever to do with this.

I think Daily Kos is full of a bunch of whack-job nitwits complaining about every little thing Obama does, but he could have fundamentally re-aligned this country politically for a few years at least by standing up to Wall Street even as he helped them out.

Sad that we'll never know what would have happened if Obama had unleashed his inner Roosevelt,

No comments: