Wednesday, May 12, 2010

Running Amok?

How is it possible that the four biggest banks in America all made money for 61 days straight in the worst economy in decades? The sad fact is that these institutions are still solvent in large part by the enormous amounts of tax payer dollars that was shoveled into their coffers by the US Government. Still think that reforms in financial regulation and corporate governance are a bad idea?

Of course since we now longer have a manufacturing industry in this country we better cling to the few successful business sectors we have left. Now if they could just learn to fuck other countries out of their money while NOT destroying our own economy in the process. If that happens then we could be an economic powerhouse again. Of course without decent paying, low skilled jobs we are going to have huge amounts of unemployed for years to come...what are the social implications of that?

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