over the past 100 years – they initiated a
bubble economy that would let
the very rich skim the cream off the top
just before the ceiling crashed in on working people..."
The fact-based society will win the battle with the fantasy-rich society!
The race to the bottom
When wall street confidence men were scamming IRA and pension plans to the tune of millions in fees and bonuses and trillions in leveraged instruments, Congressmen, pandits, and administration officials were lauding them as geniuses and captains of industry. If a CEO paid himself 100 million, not only no problem, but Congress actually passed laws with incentives to pay stock options and taking away stock-holder rights to limit the salaries of the men who supposedly worked for them.
But for the rest of us the policy is and has been, "the race to the bottom.Continue reading "The race to the bottom"