Toon: The Wall Street Crisis
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A few thoughts, in no particular order, about the crisis on Wall Street and with our economy in general.
First, how exactly is John McCain planning to clean up the greed on Wall Street that he seems suddenly so concerned about? As I recall, he believes in pretty much total deregulation. So I guess his plan involves using magic mind fairies to suck the greed right out of the heads and hearts of these CEOs!
Also, how can he simultaneously claim that the economy is in crisis but that "the fundamentals are strong"? Or that he and Palin are somehow "proven reformers" of economic greed and corruption?
Next, how could Bush possibly still claim that the economy is just going through a minor short-term adjustment?
Finally, please don't misinterpret this cartoon. There are a lot of people who will be affected by the failures at Lehman Brothers and other financial giants besides just the rich bonus getters. But there really is a double standard-there's no stigma on corporate welfare or corporate bailouts. And it's often the wealthy people who benefit most from those bailouts who turn their nose up the most at a little bit of help for struggling Americans and social spending in general.
So while I am concerned about the effect this will have on the economy and jobs in New York and nationwide... I'm really not crying for those millionaire bonus makers who exploited and inflated the subprime mortgage mess (and the luxury cars they may no longer be able to afford) but didn't get a bailout. And yes, I realize that very few of them are likely to actually end up eating barrel-grilled cockroaches--depends on how long this little economic "adjustment" lasts. But a girl can dream.
