Wednesday, October 30, 2013
Pity The Poor Billionaires
A $13 billion penalty for being one of the major players in an $8 trillion housing bubble...seems like they're getting off easy. Especially since JP Morgan had already put aside $28 billion for liabilities and a 'rainy-day' settlement fund. The feigned outrage from these pundits, lackeys, and cronies is astounding. [The $13 billion penalty is .00163 percent of the $8 trillion lost in the housing bubble.]
Lets fight public assistance fraud, means-test Social Security and Medicare, and cut food stamps, but, by all means, we can't penalize billionaires when they blow up the world economy.