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To: Fee

This may be “an attack on the Wall Street bankers but the destruction will be wrought on stores and small businesses then maybe middle class and blue collar homes and neighborhoods.


78 posted on 10/06/2011 4:00:28 PM PDT by arthurus (Read Hazlitt's "Economics In One Lesson.")
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To: arthurus

Unfortunately the revolt has started. Since the collapse of 2008, the average American was appalled by the reckless leveraging, selling mortgage backed securities as AAA papers when they were not, liar loans, etc etc etc. Sure gov had a hand in it, but the bankers took advantage of gov stupidity to the max and were willing to create a destructive bubble that crippled the economy. Remember according to free markets this was not suppose to happen because businessmen are suppose to remember the need for long term thinking. Greenspan even admitted that he never expected corporate types and bankers to be willing to create a bubble, make fantastic short term profits, pull out before the system collapses and not care that the banking system no longer exists anymore while the schemers run off with the loot leaving the unsuspecting investor and ultimately the taxpayer holding the bag. As more people lose hope in getting jobs, and the youth have no future the ingredients for a revolt or backlash at corporate bankers grows. The left has grabbed onto this political anger, and the unions are joining it. In last banking crisis (S&L) over 900 bankers, investors and staffers faced fines, revoked license, prison and etc. Today those laws were repealed by Congress so no prosecution is possible except in a few handful states under local laws. In the past middle America saw justice, today no one went to jail and the execs responsible are bailed out and getting bonuses. The left are the only ones willing to confront the bankers in the street and give it to them in the shorts. Question is will middle America support them because no one will provide justice for the destruction of the US economy. I don’t like the left but I am not going to risk my butt protecting the bankers either.


83 posted on 10/06/2011 4:31:45 PM PDT by Fee
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