Word: walling
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...fine print. These firms collapsed out of ignorance fueled by avarice - a particularly toxic combination. Under the circumstances, Feinberg is doing the best he can. But what he's doing is more symbolic than real (although symbolism does matter). Meanwhile, genuine reform of the financial system is bogging down. Wall Street wins again...
...what about those bankers? Just because I'm not proposing we immediately hang everyone on Wall Street from the highest tree, don't think I'm a Street symp...
...grab every penny they can, using taxpayer money, aren't true capitalists. True capitalists are long-term greedy, to use Goldman's favorite slogan, trying to maximize their take over the long run. The short-term greedy aren't capitalists, they're pigs. And as they say on Wall Street, pigs get slaughtered...
...what's to be done? In general, the Federal Government has been too passive about fixing the real problems, not too activist. That said, here are a few rules of the road for Wall Street and Main Street: (See which businesses are bucking the recession...
...Tell the truth, and play it down the middle. Yes, demonizing others - "pointy-headed liberals," "Wall Street pigs," "socialists" or Fox News - is satisfying and helps mobilize the demonizer's political and ideological base. It also helps the demonized do the same. But divide-and-hope-to-conquer is horrible social policy, and we ought to shun anyone, from "senior officials" to Fox News to MSNBC, who does it. (See 10 perfect jobs for the recession - and after...