recentpopularlog in

robertogreco : tarp   4

TARP: A Love Story — The Billfold
"Regardless, even if I could explain my love of TARP, it was clear. Nobody else outside my banker friends liked it. They hated it.

They hated it with everything they had. Some hated it with rants. But most hated it with a knowing resignation. They had seen this shit before.

It was the extreme example of a rigged system. Truck driver: “It wasn’t the needle that broke the camel’s back. It was the anvil that broke it.”

I also saw first hand why it resonated so badly with them. They were right, the system was rigged. At every level.

There really were two Americas. Two opportunity sets. Two education systems. Two legal systems. Two sets of rules.

The elites (Sorry about that word) got the better of it all. Better opportunities. Better educations. Better laws. Better bailouts.

And TARP was just a continuation of that, regardless of the relative merits of it at the time.

It represented how shit plays out in America: If you have money, you get cut all the breaks. If you don’t, you suffer all the breaks.

Nobody wanted to hear, “You know TARP benefited you too…” They have heard that shit all their lives. Everything is spun that way.

Me: “Really, it was also the best policy for you.” Them: “Funny how the person telling us that is always sitting on a pile of gold while we stand in shit.”

So regardless of what I think about the past beauty of TARP. The reality is: TARP was all about maintaining two separate and unequal systems.

So I look back at that distant day on the trading floor, when I first fell in love with TARP. It was only a marriage of convenience. For me.

I look back at that young banker and think. Damn he had it good. Damn he had it so easy. Damn he was so naïve. Damn did he ever love that TARP.

And damn if that TARP didn’t ever love him back."
2009  tarp  bailouts  elites  elitism  chrisarnade  greatrecession  banking  finance  class  middleclass  financialcrisis  politics  policy  us  classism 
june 2016 by robertogreco
The Great American Bubble Machine | Rolling Stone Politics
"From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression -- and they're about to do it again"<br />
<br />
"The new carbon credit market is a virtual repeat of the commodities-market casino that's been kind to Goldman, except it has one delicious new wrinkle: If the plan goes forward as expected, the rise in prices will be government-mandated. Goldman won't even have to rig the game. It will be rigged in advance."
carboncredits  carbon  carbonoffsets  goldmansachs  matttaibbi  2011  bubbles  finance  tarp  bailout  markets  manipulation  greatdepression  dotcomboom  technology  housingbubble  housing  energy  oil  gasoline 
march 2011 by robertogreco
How to Build a Progressive Tea Party | The Nation
"American citizens should ask themselves: I work hard and pay my taxes, so why don’t the richest people and the corporations? Why should I pick up the entire tab for keeping the nation running? Why should the people who can afford the most pay the least? If you’re happy with that situation, you can stay at home and leave the protesting to the Tea Party. For the rest, there’s an alternative. For too long, progressive Americans have been lulled into inactivity by Obama’s soaring promises, which come to little. As writer Rebecca Solnit says, “Hope is not a lottery ticket you can sit on the sofa and clutch, feeling lucky…. Hope is an ax you break down doors with in an emergency.” UK Uncut has just shown Americans how to express real hope—and build a left-wing Tea Party."<br />

[Related: http://www.thenation.com/article/158280/ten-step-guide-launching-us-uncut ]
politics  policy  us  uk  teaparty  ukuncut  usuncut  uncut  taxes  activism  progressive  government  tarp  bailout  deficit  2011  johannhari  grassroots  protest  finance  wealth  incomegap  disparity  inequality  corporations  corporatism 
february 2011 by robertogreco
Citi TARP Repayment is a Tax Dodge | The Big Picture
"The ongoing transfer of wealth from the middle class to the top 1% continues unabated.
tarp  citigroup  barackobama  irs  2009  finance 
december 2009 by robertogreco

Copy this bookmark:





to read