How the corrupt rich get richer with cronyism
Posted on March 1, 2013
by Nick Sorrentino
It’s sad but true. The combination of no moral compass and political connections can create a powerful money making (taking) concoction. And there are far too many people with this general disposition wandering Capitol Hill and the mirrored buildings of Downtown Washington DC.
Both Tim Giethner and Jack Lew had serious ethical questions hanging over them at time of confirmation to Treasury, but somehow the Senators had no problem. Geithner didn’t pay a bunch of taxes and Lew got a million dollar bonus at Citi which came from taxpayer funded bailout funds. But no big deal. It’s not like these guys are going to be handling the public’s money or anything.
Robert Rubin, Warren Buffett, Jamie Dimon, Lloyd Blankfien, these guys know how to work the system – a system ultimately financed by you. At least Gordon Gekko did his thing in the private sector.
- (From Real Clear Politics)
- I do know that mere mortals like you and me don’t have a prayer of “earning” the incredibly high returns that Citigroup received by “investing” in Robert Rubin and Jack Lew.
- And let’s not forget what Goldman Sachs “earned” by “investing” in the previous Treasury Secretary, Tim Geithner.
- Hey, nice work if you can get it.
- And you can even be absolved of your sins by supporting higher taxes! What’s not to love. You get millions of dollars that you could never earn in a genuinely capitalist economy, and all you have to do is agree to give back an extra 5 percent or so if tax rates go up.
- I do know that mere mortals like you and me don’t have a prayer of “earning” the incredibly high returns that Citigroup received by “investing” in Robert Rubin and Jack Lew.
http://www.againstcronycapitalism.org/2013/03/how-the-corrupt-rich-get-richer-with-cronyism/ --
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