WASHINGTON (The Borowitz Report)—The banking giant Citigroup announced on Friday that it would move its headquarters from New York to the U.S. Capitol Building, in Washington, D.C., in early 2015.
Read more at newyorker.com
I do not object to the financial industry bailout.
I do object to taxpayers not getting on the industry payroll.
The simplest -- and fairest way -- would have been straight-up nationalization.
After all, you and I bought Wall Street's bad debt just as surely as Mitt Romney made a lucrative living buying bad debt.
Or, the financial institutions that were saved by bailout could have been given this ultimatum:
Either Uncle Sam nationalizes your moribund business or you pay 20% of all future profit to the United States Treasury.
Commercial banks themselves don't hesitate to charge 20% -- or more! -- on citizens' revolving credit.
Am I missing something?
"Plutocracy Triumphant"
Cartoon Compendium
"Plutocracy Triumphant"
Cartoon Compendium
"Politics And Economics: The 101 Courses You Wish You Had"
"Politics And Economics: The 101 Courses You Wish You Had"
"Taibbi: The $9 Billion Whistle Blower At JPMorgan-Chase. Financial Thuggery At The Top"
"The Rich Aren't Just Grabbing A Bigger Slice Of The Pie. They're Taking It All"
"The Rich Aren't Just Grabbing A Bigger Slice Of The Pie. They're Taking It All"
***
Another approach to putting the nation on Wall Street's payroll would have been to break up the "big boys" and reassign their suddenly NOT too big to fail assets to banks constituted as "Credit Unions."
"Level The Playing Field: Let Credit Unions Offer Same Services As Commercial Banks"
"Founding Fathers Profit-Sharing Remedy For Inequality.
Even Ronald Reagan Likes It!"
("The History Of Corporations In The United States. A Return To Roots?")
No comments:
Post a Comment