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Forum Post: Austerity Doesn't Apply to Bankers

Posted 6 years ago on May 8, 2012, 3:39 p.m. EST by enough (587)
This content is user submitted and not an official statement

From Matt Tiabbi's latest blog:


"The model for economic progress in the financial bubble era, after all, is supposed to go something like this:

  1. Let banks inflate massive asset bubbles with the aid of cheap or even free government cash, and tons of leverage;
  2. Before it all explodes, carve out gigantic sums for bonuses and compensation for the companies that inflated those bubbles;
  3. After it explodes, get the various governments to bail those companies out;
  4. Pay for it all by slashing services to what’s left of the middle class."

You can add:

5.) Pay-to-play government officials, including the POTUS, to ensure that banks will never have to suffer any consequences and continue to wreck havoc on what is left of the economy and the middle class.



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