Rich CEOs are killing your retirement: 11 reasons bankrupt Reaganomics ideas are leading to collapse

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By Paul B. Farrell, MarketWatch


SAN LUIS OBISPO, Calif. (MarketWatch) — Headlines race across the web: “Jamie Dimon Worries That Financial Regulation Will Doom Banks, Forever.” Doom? Forever? Settle down Dimon, this sounds like an over-the-top B-movie promo for “Vampire Chronicles.”

Suddenly the boss of $2 trillion J. P. Morgan Chase is our newest “Dr. Doom.” Last week he was preaching his mantra to the U.S. Chamber of Commerce choir, warning that financial reforms would be a “nail in the coffin for big American banks.”

Nail in the coffin? Yes, and that’s exactly what the American public wants. Stuff Wall Street’s Vampire Squids back in their coffins, nail the lids shut, bury them forever.

Seriously, nationalize our incompetent Super-Rich Banks. We made a historic mistake not doing it in 2008. Should have let the vampires go bankrupt, reinstated Glass-Steagall. Instead we sat passively letting our double-dealing Treasury Secretary, former Goldman boss Hank Paulson, protect his Wall Street cronies as he conned Congress and taxpayers into making the worst economic blunder in American history, bailing out Wall Street’s “too-greedy-to-fail” banks. ................(more)

The complete piece is at: http://www.marketwatch.com/story/super-rich-ceos-are-killing-your-retirement-2011-04-05

[rucky]

1. Here's the crazy part...

commenters on MarketWatch are agreeing with him.

[marmar]

2. I know, crazy......Perhaps a few of them have tired of the taste of Free-Market Koolaid.

nt