Papantonio: Wall Street Psychopaths Destroying America

[GoLeft TV]

There was a great article written this week by Gary Younge. He pointed out that Charles Munger, the billionaire chairman of Berkshire Hathaway, said that there was really no need to bail out poor, hungry people from an economic standpoint because as he put it "life is a little harder than it used to be and people need to suck it up and cope with it."

In the same breath, one of America's new Wall Street cretins pointed out that it is critically important that taxpayers continue to subsidize other fat cat Wall Street types. He told his audience that they should be thankful by thanking God for bank bailouts. In other words, bailouts for billionaire Wall Street bankers seems just fine, but coming to the aid of America's poorest population is reckless and bad judgment.

Munger and his psychopath pals on Wall Street are in a new rehabilitation mode where they are reasserting that greed is good for all of us. When Munger told his audience that poor people simply need to suck it up, get over it, and go on with their dismal life. What he was telling them is that they needed to adapt to the new form of capitalism that is destroying America. In other words middle-class and poor Americans need to adapt but Wall Street reserves the right to continue its dysfunctional predatory disastrous race to the bottom without ever adapting to anything. Poor people and the middle-class must adapt, but Wall Street sees no need to adapt because middle-class and poor taxpayers are always there for the bailout when incompetent irrational criminal corporate MBAs make incredibly bad decisions.

The most troubling aspect about the Munger story is that Munger seems to be getting cooperation from the huge new numbers of Wall Street Democrats.

Full text at Ring of Fire.

[madrchsod]

1. pap was on fire today filling in for big ed

he called everyone on both sides out...

[Iwillnevergiveup]

2. KICK!

All the Sunday talk shows need to be pulled from the air - they are nothing but an opportunity for lies and grandstanding at the expense of most of us.

[drynberg]

3. Gotta say, that Wall St. Dems & Repubs are good, even better than Mike credits, it's just that

One needs to season them correctly, and then these seemingly worthless politicians feed scores of hungry Americans, and leave an opening to be filled. Bon Appetite!

[cantbeserious]

4. How Wall Street Rips Off Main Street

[ReformedRepublican]

5. The entire problem could go away with a few simple changes...

1) Forbes almost had it right. Flat tax for everyone including corporations, but with a floor for individuals where the first $100,000 or so (pick a number) is tax exempt. Eliminate personal exemptions as the floor would cover it and basically make the 1040 a single page.

2) FICA (above the ceiling) also has no cap.

3) All loopholes go away.

4) When the military says "We don't want or need the F-35", LISTEN TO THEM!

5) Get rid of contractors and let the federal and state employees do the jobs.

6) Raise the minimum wage at the federal level to $30/hr. Money that goes out gets spent and the economy would not take long to recover.

7) Finally, and most importantly, pass a Constitutional Amendment to void Citizens United. That's the most offensive ruling I know of in the history of the USSC.

[ancianita]

6. Excellent blast from Mr. Papantonio. Long may he run.

[adirondacker]

7. Kick! and Rec! nt