Tuesday, October 11, 2011

I Summarize My Reading About Wall Street

I get confused easily, so I am going to use this post to think aloud about Wall Street and the Occupy Wall Street movement.

According to Michael Lewis in The Big Short, Wall Street Bankers gambled and engaged in stupid and greedy practices that brought the United States perilously close to ruin.  As a result of surviving these practices, Wall Street Bankers expect huge bonuses for 2011.  Meanwhile, household incomes continue to fall even though the recession is allegedly over.

Now some people are occupying Wall Street to protest that situation.  Republican Eric Cantor claims these people constitute mobs.  The Dakota War College, meanwhile, says they smell bad and are unpatriotic because they don't carry flags.  In addition, the Los Angeles Times reports,
Republican presidential contender Herman Cain amplified his criticism Sunday of the growing Occupy Wall Street movement, calling the protesters “jealous’ Americans who "play the victim card” and want to “take somebody else’s” Cadillac.


In summary, the people who caused the recession are apparently supposed to get bonuses while the people who protest the fact these bankers get bonuses while average household incomes are shrinking unpatriotic, dirty, thieves.  It's a good thing these protesters haven't paraphrased or recited William Jennings Bryan's Cross of Gold speech.  They'd probably be open to being called unchristian then.

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