Tag: greed

My Generation | Peter Mehit

~ CBPS ~ 1 Comment

I love watching people who enjoy publicly subsidized medical care and prescription drug benefits stand on street corners with signs warning of a socialist takeover of health care.

Given how long it took the Tea Partiers to realize their first name choice, ‘Tea Baggers’, actually described a sexual practice, there is probably little hope they will grasp how ironic they are.  These individuals are the number one enemies of health care reform. The baby boomers. They’re retired (or about to be), they’ve got steady income and a great health plan. They’ve got theirs and you’re not going to mess with it.
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The End – How Wall Street Did Itself In | Portfolio.com

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ded bull

I just reread this piece and decided to share it. If you were wondering how we got where we are today, this article combined with Matt Taibbi’s “Great Bubble Machine” (next article) will provide you with every thing you need to know.

To this day, the willingness of a Wall Street investment bank to pay me hundreds of thousands of dollars to dispense investment advice to grownups remains a mystery to me. I was 24 years old, with no experience of, or particular interest in, guessing which stocks and bonds would rise and which would fall. The essential function of Wall Street is to allocate capital—to decide who should get it and who should not. Believe me when I tell you that I hadn’t the first clue.

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