"A Banking Banana Republic": Wall Street's Record $130 Billion Bonus, FCIC Report - Michael Lewis & Dylan Ratigan

Video - Dylan Ratigan with Michael Lewis - Feb. 2, 2011

The real unemployment rate hovers above 22%, new job creation is stagnant, but Wall Street pay is up 5.7% this year to $130 billion.  

All thanks to you, Mr. and Mrs. Taxpayer.

Michael Lewis and Dylan Ratigan wonder why taxpayer outrage seems to have dissipated so quickly.  Has it really?  Wisconsin doesn't happen without the residual, underlying, seething anger from the Wall Street bailouts.  It's a hell of a lot easier now to stand up and so no f^^^ing way when you can point to a group of unappreciative fatcat bastards, living high on your hog.

Further reading...

• William Black: Attention Congress! Here's How To Solve The Wall Street Bonus Problem

Comments

[dogismyth]

Well Joseph it promises to be an eye opener for many. I'm at a loss as to what you are referring to that occurred in 1933 but I think the most obtrusive evnt was the Bankers Act of 1933 and confiscation of gold. We're on the same path again since the kamikaze economy has only one logical fate. Get use to "pat-downs", security checks and metal detectors since they are the tools the elite will use to finish the wealth transfer.

I'm all for fighting the two-headed dragon. But at this stage of the game, I say let things play out as they should. Things will never be the same nor do I hope they are. If you don't believe in fate or karma, you will and so will those that have so persecuted this world.

[dogismyth]

well i was responding to Joseph Conrad's comment....but it disappeared!

[S. Gompers]

I never saw Joes comment, but there is also the failed Fascist coup in America in 1933. And various legislation that arose due to financial scandals, Securities Act Of 1933, The Banking Act of 1933, Glass–Steagall Act of 1933. It was a busy year...

[Benny and the Talibanks]

STEP 1:
We must seize the assets of any financial company that received government aid in the past 5 years.

STEP 2:
We must seize the assets of any manager that worked for any group defined in step 1.

[josie]

Keep up the good fight, DR! Having knowledgable people (Lewis, Rosner, Smith, etc.) educate the rest of us is the beginning...