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Wall Street.
you can't.
Wall St s you, and is un able.
No, it ain't. If it s us too badly it's ed too. Lost trust will not be lightly or easily regained, domestically or internationally. Indeed, loss of confidence can become a self-reinforcing trend.
"If it s us too badly it's ed too"
No, it won't be.
Even that were true, we'd be ed out LONG BEFORE the finacial sector feels any pain, never mind being ed.
The financial sector has almost completely detached itself from the Real Economy. The stagnation of real household income for 30+ years, the actual decline in real income for single males, the record profits of UCA corps that last couple of quarters, the insane profits and bonuses on Wall St back above where it was pre-bubble-pop, etc, etc. It all comes from playing with electronic money, betting in their private insane casino (traders/speculators of commodities), evading/avoiding taxes with inter-national s games, etc, etc, from deregulation (Glass-Steagall, derivatives trading secret and unregulated), from globalization (pitting wealthy country workers against East/South Asian employees), from decreased taxation, etc.
While 20M Human-Americans are mal or underemployed, or the "lucky" ones re-employed at same job with much less pay, the financial-sector-caused real estate crisis completely shoved down the throats of tax payers rather than bankrupting the financial sector,
The financial sector doesn't GAF about "trust" or anything else beyond their own self-propelling, predatory, destructive greed. They have hired the Best and Brightest minds away from the Real Economy (science, math, engineers, legal, financial) to construct an impregnable fortress. They have 100s of times more $Bs than they need to buy/corrupt/compromise/capture politicians, judges, regulators, enforcers, all of which cost the Master of Universe nothing but pocket change. Bros are worth $50B. Have the spent even $1B on the their tea bagger grunts (who are now agitating in Congress to defund SEC ( Bros are also commodity traders and financial players, not just carbon industry polluters), defund IRS, defund CFPA, defund/gut EPA.
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Alan Budd, an economic advisor to Margaret Thatcher, once explained that “in Marxist terms” higher unemployment was “an extremely desirable way of reducing the strength of the working classes … which re-created a reserve army of labor and has allowed the capitalists to make high profits ever since.”
http://www.alternet.org/module/printversion/150555
Last edited by boutons_deux; 04-09-2011 at 09:44 AM.
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