AZspot AZspot

blue bits. red rocks.
Tuesday 11 October 2011

What’s going on here? The answer, surely, is that Wall Street’s Masters of the Universe realize, deep down, how morally indefensible their position is. They’re not John Galt; they’re not even Steve Jobs. They’re people who got rich by peddling complex financial schemes that, far from delivering clear benefits to the American people, helped push us into a crisis whose aftereffects continue to blight the lives of tens of millions of their fellow citizens. Yet they have paid no price. Their institutions were bailed out by taxpayers, with few strings attached. They continue to benefit from explicit and implicit federal guarantees — basically, they’re still in a game of heads they win, tails taxpayers lose. And they benefit from tax loopholes that in many cases have people with multimillion-dollar incomes paying lower rates than middle-class families. Paul Krugman

38 notes

  1. aucourantattitudes reblogged this from azspot
  2. think4yourself reblogged this from azspot
  3. pavlovsstepson reblogged this from azspot
  4. loveandchunkybits reblogged this from cocothinkshefancy
  5. davesmachine reblogged this from azspot
  6. infinitewhimsicality reblogged this from sarah-today
  7. thespiritofyamato reblogged this from azspot
  8. gnostix1 reblogged this from azspot
  9. m-o-ckup reblogged this from sexgenderbody and added:
    Very good commentary
  10. dorkus reblogged this from azspot
  11. gleeksfalllikedominoes reblogged this from cocothinkshefancy
  12. idealistpondering reblogged this from sarah-today
  13. sarah-today reblogged this from azspot
  14. cocothinkshefancy reblogged this from sexgenderbody
  15. sexgenderbody reblogged this from azspot
  16. azspot posted this

A GNT creation ©2007–2012