30 May 2016

The Culture of Criminality: Wall Street and The Banks

"Seven years have passed now since the last recession officially ended, and yet the country’s fury has scarcely cooled. To this day we remain angry at Wall Street; we rage against career politicians; and we are incandescent that the economic system seems to have been permanently rigged against working people. Median household income has still not recovered the levels of 2007. Wages are going nowhere. Elite bankers are probably never going to be held accountable for what they did. America is burning.

Listening to the leading figures of the Democratic party establishment, however, you’d never know it. Cool contentment is the governing emotion in these circles. What they have in mind for 2016 is what we might call a campaign of militant complacency. They are dissociated from the mood of the nation, and they do not care...

That they seem to want to do all these things anyway tells us everything we need to know about who they really are: a party of the high-achieving professional class that is always looking for a way to dismiss the economic concerns of ordinary people."

Thomas Frank

“The new America, instead, is fast becoming a vast ghetto in which all of us, conservatives and progressives, are being bled dry by a relatively tiny oligarchy of extremely clever financial criminals and their castrato henchmen in government, whose job is to be good actors on TV and put on a good show...

Wall Street has turned the economy into a giant asset-stripping scheme, one whose purpose is to suck the last bits of meat from the carcass of the middle class."

Matt Taibbi