You all know my opinion about banks, and I hope that you realize that the hatred and loathing also reach to Major stockbrokers and hedge funds. They are the root of the infection that is on the verge of sending our country into the ICU. The greed of the senior members of this society of scum bags takes the cake. They put the money that is put into their "safekeeping" into the riskiest possible investments to make money so that they can pay their inflated salaries and bonuses.
Merrill Lynch loses 10 billion dollars, their CEO gets paid 15,000,000. The same man led Merrill Lynch to announce that it is taking yet another big write down on its subprime securities, selling paper with a face value of US$30.6 billion to private equity firm Lone Star for $6.7 billion. It will dilute its common stock 38% through the sale of additional shares to make up the losses.
Citigroups's Vikram Pandit gets $165 million for the sale his hedge fund to his employer and then goes out an loses an incredible amount of money.
These scum have been sucking the country dry. They make huge, risky deals with other peoples money in order to take huge sums home to their Hampton estates and second homes in Vail. They are not required to give anything back when they lose and they make sure they are grossly overcompensated when they make any positive headway, no matter how trivial of contrived.
Large corporations are no better. The overpay themselves to move other American's jobs to China. They gut the productive capacity of the country to pay themselves bonuses and to play high priest at the shibboleth of "shareholder value".
Folks, we started out as a Republic. We tore apart that Republic to emplace a democracy. Which through its own neglect and greed allowed an oligarchy to take control.
We are ruled by the wealthy, by a overweeening and self-interested group of immoral men and women with no thought of anything but their own "compensation packages". They buy and sell Presidential candidates and have so demeaned the office that it it is now indistinguishable from the office of student body president at your local high school.
Congress is even worse, they really are the "Parliment of Whores" so well described by P.J. O Rourke.
Until the country breaks the grip of these greedy monsters and their chokehold on the political culture of our country, we will remain paralyzed. Our country will be sold off piece by piece to the rich of other countries, purchased with the dollars that we gave these people for oil to slake our incessant thirst.
The country has to break. It has to break down and we have to destroy to power elites that are running the country for their own benefit. When we do that, we will be significantly poorer in a financial sense, but richer in freedom.