More Outrage

Time for my daily dose of outrage....

A few days ago under the title of Great Words, I posted a quote from Dr. Henry Kissinger that explained that when the gap between the richest Americans and the poorest (even middle class) Americans becomes too great, there will be a political rebellion, The point of such a rebellion, in my interpretation of the words, will be to bring the wealthy back closer to the center.

The wealthy have used their greed to bilk the American middle class out of billions. While they frolic in the luxury of their deep, thick piles of cash, earned by trashing our economic system, the rest of us pay the price. In my opinion, the election of a liberal Democrat to the presidency reflects that rebellion.

Take a look at this crap, posted by Uncle Bob on Daily Kos...

The Financial Times reported that Merrill Lynch accelerated its normal time schedule for awarding bonuses and distributed $ 4 billion dollars on Dec 29, just 3 days before its takeover by Bank of America. At the same time Merrill posted $15 billion in losses for the fourth quarter. The total compensation for Merrill Lynch employees in 2008 was $15 billion.

That’s way more than just an outsized sense of entitlement, that’s flat-out stealing. And the money for this comes from, you guessed it, the US government. The Bank of America was prepared to back out of the deal once the size of the Merrill Lynch loss became apparent. The deal was completed only after guarantees of government money by the US Treasury.