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The wealthiest Americans redistributed the wealth to themselves over the past 30 years, and nobody said that that was creeping socialism when, in fact, they socialized risk. The AIG bonuses prove that the rich are still doing it, claiming that they are contractually obligated as they hand their 401K investors the loss. I guess that when the rich steal our money, that is called capitalism, but when the middle class and the poor demand it back, that is class warfare. We should not only redistribute the wealth, we should call things by the right names.
Really? I guess I misunderestimated him.
AIG deserves the blame in this case. AIG has known about these bonuses all along and chose to do nothing about them. The real problem, however, is not just the bonuses but the criminal activity engaged in by AIG that has contributed to the collapse of the global economy.
One of Stewart's points is that MSNBC makes claims about Cramer and his show that are simply not true. Cramer is not the one to trust for financial advice, and he is not a journalist. Cramer admitted that he is just trying to put on an entertaining show about business, and that instead of verifying his information, he trusted his friends in the industry, who he said were wrong. When you claim to be the one to trust for financial advice, and you also claim to be a journalist, when you report information that is incorrect, it is your mistake, not the mistake of the person who gave you the information. Jon Stewart was right to point this out.
The populist outrage over the AIG bonuses is an example of how misdirected populism can be. Yes, the bonuses are absurd and should be recalled. However, we were not nearly as outraged over AIG's collapse, nor were we outraged over the 170 billion in bail out money. We were not outraged at bailing out GM either, a grossly mismanaged company that has produced gas guzzling poorly engineered vehicles for years. But, when the CEO came to Washington in a jet, that was too much. And the 165 million in AIG bonuses, or what amounts to less that .1% of the AIG bail out - that is cause for revolt. To paraphrase a Janis Joplin song, populism is another word for nothing left to lose.
Does anyone actually listen to White House press conferences? They became a joke during the Bush administration. From the little I have seen of them, they haven't really changed much. Journalists demanding that Dick Cheney be treated with the utmost respect because he is a former Vice-President proves that they are not journalists. They should have asked for a factual assessment of Cheney's claims. Robert Gibbs did set the wrong tone. He should have responded with objective evidence refuting Cheney's claims. What the Obama administration needs to avoid is the kind of character assassination practiced by Cheney and the Bush administration.
Watching Glenn Beck is like watching reality T.V. You don't watch it because it is good but because it is so bad. Where else can you listen to someone equate Jesus and Hitler? Where else can you hear doomsday scenarios that out doom doom? There is a reason that American literature, film, and television are replete with confidence men. It is the American Dream for Dummies. It gives us hope that we can make it with no talent, no skills, and no brains, no education, no ideas, no sense of humor, and if we're ugly, too.
I am extremely angry at those corporations and individuals who brought down our economic system. They not only stole our money, they are getting billions more in bail out money. Does that mean that I accept the populist argument that they are being rewarded for their bad behavior? No. We have little choice but to keep these corporations from bringing down the global economy. What it does mean, however, is that I want a new kind of economic system to emerge, one that is socially responsible. These corporations owe us on many levels, and it is important that the public be repaid not only in money but with a new economy in which corporations serve the public good and not narrow private interests.
Now here is a high profile story. Jackie Mason gave the finger to Ed Sullivan 30 years ago and now this! He used a Yiddish word that could very well might have negative overtones according to many people. OMG! I'm vaclemped!
Now uninsured and inadequately insured patients actually pay more for the same services as those with the better insurance plans. Costs for a colonoscopy at one Boston Hospital range from about $500 to $7,000 depending on the patients insurance. Many uninsured patients cannot afford to pay for their health care, so the costs are passed on to those with insurance. A national health care plan giving everyone the same bargaining power, would substantially reduce costs fr insurance and medical care. Health care is just one of many areas of the economy where the free market system and competition fail to meet the needs of society.
I must have missed the class on the powers of the Executive Branch of government. I thought that determining constitutionality was the role of the Supreme Court.