The taxpayer isn't off the hook, even if the worst of the excesses have passed. The corporate agenda now dominating the Washington consensus is to privatize profits, and socialize losses (to quote NYU economist Nouriel Roubini) in some crazy backwards Robin Hood, and so the taxpayers and their grandchildren will be paying for the regulatory lapse.
Sure some speculators have gotten rich, and greed is good according to this philosophy, but how good is it that some have gotten obscenely wealthy by not actually creating anything, but simply profitting from the labor of others? Just how American is that? To further slap the American middle class, alongside their troubled mortgages and worsening job market, the tax burden on the ultra-rich has fallen to the point Warren Buffet pays less on every dollar he earns in taxes than does his maid. So not only will the taxpayer bail out those responsible, they'll be given a tax break!
Sure some speculators have gotten rich, and greed is good according to this philosophy, but how good is it that some have gotten obscenely wealthy by not actually creating anything, but simply profitting from the labor of others? Just how American is that? To further slap the American middle class, alongside their troubled mortgages and worsening job market, the tax burden on the ultra-rich has fallen to the point Warren Buffet pays less on every dollar he earns in taxes than does his maid. So not only will the taxpayer bail out those responsible, they'll be given a tax break!
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