10.13.11
Pitchforks media
Good news, lads! Good news! Still dead on rock tuneage.
Seen in the wires.
[Wall Street financier John Phelan] said he’s worried about “social unrest.???
“My taxes are going up,??? he said. “Everybody hates me. I have two friends who bought land in New Zealand. They’re trying to convince me to go.???
What’s going on here? The answer, surely, is that Wall Street’s Masters of the Universe realize, deep down, how morally indefensible their position is. They’re not John Galt; they’re not even Steve Jobs. They’re people who got rich by peddling complex financial schemes that, far from delivering clear benefits to the American people, helped push us into a crisis whose aftereffects continue to blight the lives of tens of millions of their fellow citizens.
Yet they have paid no price.
The only reason the Lloyd Blankfeins and Jamie Dimons of the world survive is that they’re never forced, by the media or anyone else, to put all their cards on the table …
The so-called “Too Big to Fail” financial companies – now sometimes called by the more accurate term “Systemically Dangerous Institutions” – are a direct threat to national security.
Will the pitchforks eventually come out, even symbolically? I have no idea. But a year ago there was no name recognition of anti-Wall Street populist anger anywhere but on Paul Krugman’s real estate.
Right now the plutocracy is wondering if it can just wait it all out. Still might be a safe bet.
Fat guy goes to China, is heartbroken over the obvious — the ugly truth behind his beloved iKit. Tears well up.