THE BLOG

Gilded Age Crime: Poor Go Hungry, Wealthy Get Bailouts

08/17/2007 03:25 pm ET | Updated May 25, 2011

Another scandal: bank issues housing loans,
many of the poor and some middle class fall
behind their payments, banks foreclose, sell
the loans, the poor go homeless and the banks,
hedge funds and private equity funds are bailed
out.

Today's interest rate cut is good, actions over
the previous week are nothing more than thinly
diguised bailouts for upper income money
managers and money manipulators.

The poor and the middle class get the boot,
the higher incomes get the loot, the taxpayer
gets screwed, and homelessness and hunger rise.

Will Hillary say these hedge funds and private
equity firms that benefit from the bailouts are
just average Americans who don't influence
policy with their money?

Democrats should raise this issue from the
rooftops and take it to the country. For a
longer discussion of why this outrage must
end, and why Democrats should campaign
to end this new Gilded Age, see my essay
published in The Hill.