I just wanted to share this very powerful piece by Elizabeth Warren, chair of the Congressional Oversight Panel that is overseeing the banking bailouts (TARP). In it, she argues (with graphs, no less, a rarity in the blogosphere) that the middle class is, and has been, getting an extremely unfair deal in American society. Meanwhile, the bankers whom we bailed out from having to face the consequences of their own greed, are earning record profits this year and are on track to hand out massive bonuses, all in the name of "employee retention." To protest against this condition, this blatant unfairness at the intersection of American finance and government policy, is to be labeled a populist. Screw that, I'd rather be a populist standing up for the values of fair play that this country was founded upon than a Wall Street sycophant masquerading in elected office any day.
Thank you, Elizabeth Warren, for daring to speak truth to the powers-that-be in the Washington-Wall Street nexus.
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