Not only did Wall Street gamblers bail themselves out by means of $16 trillion of taxpayer money, but now they are also showering themselves with additional trillions of QE dollars to grow even richer.
We live in a time when the irresistible force that is the machinery of death on the one hand and the immovable object that is the indifference to the fate of the least among us on the other -- conspired in the execution of Troy Davis.
Although they perform certain beneficial financial and capital market and merger services, Wall Street houses, financial institutions, and hedge and equity funds must be regulated in the public interest.
America's biggest problem by far is that capital spending in new production facilities that create jobs and real products never occurred, not even after trillions of dollars were thrown at banks in the global financial system.
A recent WSJ article on banks in trouble focused on the fact that many of these banks were TARP recipients. While state bashing is nothing new in the pages of the WSJ, it's worth remembering what the bailouts were actually designed to do.
The IMF has been issuing warnings over the past couple weeks. If this massive expansion is a direct reaction to their recent statements, then we are looking at a severe financial shock in the near future.
This isn't a free market. It is rather one of the most complete instances ever of savvy businessmen capturing a state and the minds of the people who run it. Is this really what the president seeks to endorse?