Wall Street and Willie Sutton
The mobs of people protesting financial misdeeds that have taken place on Wall Street is the kind of chaotic activity that Saul Alinsky outlined as necessary to overthrow the American form of government.
It is more than simply an outpouring of rhetoric by a bunch of disenchanted under employed citizens. These are people who are capable of creating anarchy using the current administrations failure to address the continued jobless situation as their reason for anarchy.
Rather than addressing the economic needs Obama has stimulated a divide in the nation with the successful citizens being placed as the evil doers in a class warfare scenario. This is a reelection strategy by Obama using our economic distress for his personal gain in 2012.
The protests on Wall Street and other sites are not totally without some legitimate reasons for discontent. Millions of Americans continue to remain jobless with growing belief that no end is in sight for their financial distress. Unfortunately the waving signs and shouted slogans are taking place in the wrong location. The Capital is where the focus should take place.
Wall Street is populated by many greedy individuals. This is not a new phenomena .
A well known comment is that the market is driven by a combination of fear and greed.
The current administration has become more closely wed to the machinations of Wall Street and the Federal Reserve than almost any administration in recent memory.
Wall Street activity as with most entities has positive and negative aspects. In our time the negatives have taken control of this important element in our economy. The Greed Group is the current star in the Wall Street firmament.
Why is there such a plethora of greedy executives in prominent positions on Wall Street?
The famous bank robber Slick Willie Sutton when asked why he continues to rob banks answered, “that’s where the money is”. Wall Street is where the money is for the super greedy to plunder.
Looking beyond the current chaos there are some facts for the mob to recognize. The current economic slow down has affected Wall Street and New York as well as the rest of the nation. Wall Street firms have laid off 22,000 employees as a result of the current slow down. Wall Street firms provide a needed source of funding for company expansions with increased employment as a result. Wall Street is made up of firms that provide employment for a wide range of business skills, most of which are not paid in the millions which is the categorization being presented by the mobs. The greed makes the news but the thousands of ordinary
people doing a good job in the financial sector are almost unnoticed by the news coverage.
We are in a perilous moment as a nation and it is time for straight talk from our leaders
Going after millionaires as evil elements in our society is perhaps the most disingenuous
Obama activity yet promoted. Crying that everyone should pay their fair share of taxes and the millionaires needing to pony up more taxes is a purely political strategy with no real expectation that deficits will be met by a tax on millionaires.
50% of American pay no taxes. How is that fair?. The top 1% of income earners pay about 38% of all personal income tax l Government and the top 5% pay 54% of all individual income tax. That sounds like a fair contribution to me The proposed Obama millionaire tax actually is for individuals that make $200,000 and couples that make $250,000. This will affect small business dramatically since those that are formed as LLCs will be additionally taxed if they have an income of $250,000, which is not exactly a ton of money.
The proponents of anarchy now mobbing Wall Street should do some homework as to where the economic problems are being exacerbated by Obama’s policies and how closely his administration is aligned to the worst aspects of Wall Street.
