Zooming In on the Year's Biggest Hoax

[bridgit]

Who are these people? I am not referring to the pathetic parents of "Balloon Boy," whose fake drama I have been unable to escape while on the treadmill this week, thanks to my gym's insistence on tuning its flat-screen TVs to Wolf Blitzer's nonstop self-parody.

The Colorado incident was significant only in the tawdriness of those who perpetrated the made-for-TV scam and their allies in the mindless media who covered this sham "reality" so relentlessly. But even so it was enough to push aside most consideration of the true hoax reported last week with far less fervor: the obscene rewards that Wall Street bankers bestowed upon themselves for ripping off our economy.

The people I want to know more about are the superrich who expect to be rewarded for their failures, like the folks at Goldman Sachs who will receive $16.71 billion in bonuses--an average of $530,000 per employee--this year after their company did as much as any to bring the world economy to the brink of disaster.

"The Guys from Government Sachs" is what the New York Times once called them in recognition of their chokehold on the federal government. Their power is marked by the two treasury secretaries who led the fight to legally enable and then reward Wall Street for its obscene excesses. Why wasn't there a CNN stakeout at the homes of former Goldman-execs-turned-treasury-chiefs Robert Rubin and Henry Paulson aimed at finding out how they feel about the almost $7 billion profit that Goldman Sachs made in the last two quarters in the wake of the government's bailout of the firm?

http://www.thenation.com/doc/20091102/scheer

[JoeyT]

1. The 4th estate is pretty much useless now

I'd love to see the MSM tearing Goldman Sachs apart. Unfortunately, the parent companies of most news organizations don't really want us getting any ideas about the pitchforks and torches.

P.S. Sorry for the unrec, hit the wrong button. :/

[bridgit]

2. YOU! Not to worry, I do agree the greater pendulous mass of M$M is not up to the task...

Am sending along a belated welcome to DU, JoeyT :kick:

[Canuckistanian]

3. A lot of people knew it was a hoax while it was happening

Sure, they needed a massive infusion of cash to keep the system alfoat, but the amount and the terms under which the money was given were outrageous.

No oversight. No conditions. No interest.

It was as if they backed up a semi trailer with Gold, threw open the doors and said "Take what you need, boys"

[bridgit]

6. You got it, HomeSkillet

:kick:

[tavalon]

9. Juno

Loved that movie.

[valerief]

4. It's been a coup, plain and simple. We are not a free country. nt

[bridgit]

8. Yeah, and for all our 'concern' here it went and happened anyway

[ddeclue]

5. Who ARE these people?

Butch and Sundance never robbed as many banks or took so much ill gotten loot as "these people" did.

Where's OUR "super-posse"?

:shrug:

[bridgit]

7. 'wurd' dude who *are* these fugg'in people!