The report on bank bonuses only underscores the impunity with which the financial aristocracy rules over American society. Under conditions where 20 million people are out of work, wage levels are being slashed, and the social infrastructure is under ruthless attack in the name of “deficit reduction,” the lords of Wall Street and the hedge fund kings accept not the slightest restraint on their incomes and their accumulation of private wealth.
The use of such terminology to describe the financial elite is perfectly justified. Wall Street today is as haughty, rapacious, self-satisfied and parasitic as the French landed oligarchy before 1789 or the Russian Tsar before 1917. The disconnect between the billionaires and CEOs and the great majority of the American people has reached unprecedented dimensions.
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Monday, July 26, 2010
On Wall Street, crime pays very well
from World Socialist Web Site.