You are correct. The big lie is over. I don't take pleasure in anyone else's pain and suffering. It's against my religion. But I hope there is some lesson to be learned by this.
Wealth is NOT created by moving money around. Wealth is NOT created by financial manipulation.
Wealth is created by commerce. It is the production of useful and valuable goods and services. Wall Street's job in this is to get capital to those engines of productivity. In recent years they have totally lost focus and have been essentially moving money back and forth and taking a hefty percentage for themselves. Look I'm a capitalist to the core but the salaries and bonuses of some on Wall Street is vulgar. These people are simply not worth the type of money that they have been getting. If there is anything to be learned from this whole mess I hope that is it.
I don't take pleasure in anyone else's pain and suffering. It's against my religion. To be fair, the pain and suffering these people are experiencing is worrying over which of their three ski lodges in Aspen they're going to have to sell, the private schools in Switzerland they might not be able to send their kids to and the beach-front real estate in St. Barts that might have to wait until this "blows over."
They're not experiencing the pain and suffering of watching their retirement savings go "poof", lapsing on their medical insurance and worrying what will happen if they get sick, wondering if maybe they should just swallow their pride and see if they qualify for food stamps and worrying about how many house payments than can fall behind on before the sheriff delivers the eviction notice.
There's some real pain and suffering going on right now --just not in the Hamptons.