The cumulative incomes of the executive directors of privately owned Lehman Brothers and the businesses which now need to be rescued before they collapse (AIG, Bear Sterns, Merill Lynch, Morgan Stanley - all privately owned) are evaluated at $95 billion for the last 3 years. At the same time, the affairs they led have generated an estimated private loss of $1,000 billion. Today, not only AIG and the "toxic" debts generated by the banks were nationalised after 30 years of intensive "free market" and liberalism propaganda, but also those making the most money in society, whose constant obsession is tax evasion, are walking away $95 billion richer and $1,000,000,000,000 lighter, having managed to pass it on to the public sector.
In other words, the poor who have been denied access to free education and social security cover in the name of liberalism since the 1980s, the poor who have recently lost their houses or their jobs now have to pay for the debts of the rich!
Even Joseph Stiglitz, US Nobel price in Economy, expresses his disgust in the Frankfurter Allgemeine Sonntagszeitung by declaring that it is monstruous to to impose on the taxpayer investments that no one dares dreaming of buying in the private sector, and, by doing so, both the banks and the US administration have lost all their credibility.
They're really good !
20th Sep 2008, 13:24
comments (0)
Beautiful Inside My Head Forever
12th Sep 2008, 22:59
comments (0)
