The Bee in its home delivery version has an excellent piece
on The 1 % unmasked, and more than 500 critical responders. I do not know why this article which
the web says was published on Saturday appeared on Monday.
http://www.sacbee.com/2011/10/28/4014086/who-are-the-regions-top-1-of-earners.html
This is an excellent background piece. As a democratic socialist, I want to be
clear. I do not object to salary inequality in the range of 10 to 1, or even 20
to 1. Such inequality may reflect
background preparation, inherited positions, etc, and may encourage innovation
and risk taking.
I do, however, object to differences of 100 to 1, or even
400 to one, such as developed in the 1990’s, and the first decade of 2000. In particular I object when these financiers added little or
nothing to the economy except gambling, and then the crashed the economy
costing us all a loss of over $ 13 Trillion.
They should be arrested and tried for grand larceny. Bernie Maddoff was a small timer
compared to the CEO’s of Goldman Sachs, Bank of America, AIG, and the
others. See, The Best Way to
Rob a Bank is to Own One. By William Black.
The reason that the super rich are not on trial is that they
have bought the government. This
larceny was once illegal, before de regulation. They have now cost the jobs and the homes of millions.
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