But then like an airplane that climbed too steep it stalled recently and is now in a steep nosedive heading for the ground. But of course, they are all now balling out and floating safely to earth after deploying their golden parachutes. The CEO of Lehman, Dick Fuld, personally earned (I mean plundered) a cool 490 million dollars in recent years before running Lehman Brother’s and its stockholders and creditors into the ground. No doubt his money is securely buried in a vault lined with gold bars, unlike the worthless paper he got rich selling to fools.
Now the ultimate sucker, the US government (claiming to represent us and our interests), has come forward to swallow all the toxic paper shit that these greedy bastards intend to puke on us. This weeks estimated cost – 700 billion dollars. I think their motto is Â “Privatize profits, Socialize Losses”. Even the mainstream press is catching on. The cover story on the September 29, 2008 issue Time Magazine reads – “How Wall Street Sold Out America – They had a Party. Now you’re going to pay.”
How ironic that I was in NYC to visit my brilliant 18 year old nephew who was just starting his economics coarse work at New York University. His dorm room is right on the edge of ground zero (no, not the old ground zero known as the Twin Towers but the new one known as Wall Street). Michael need only look out his dorm room window to see the greatest economic and financial disaster since the Great Depression. Or he can take a short field trip down to Wall Street and watch as the wizards of Wall Street and their minions carry boxes from their former offices.
Hang on to your seats folks. This is going to be one Hell of a power dive with us left to pull on the joy stick since the wizards who were flying it are all bailing out and deploying their golden parachutes.
Next Stop – the All American City of Chicago