Wednesday, August 19, 2009

... and the money trickles up

... Americans will thus pay for the TARP and low interest rate subsidies to their financial rulers with erosion in the purchasing power of the dollar. What we are experiencing is a massive redistribution of income from the American public to the financial sector.

- Paul Craig Roberts (htp: Jesse)


dearieme said...

Interesting, isn't it, that the great rip-off is not by the capitalists (= shareholders) but by the most powerful of the employees (= CEOs etc)? And that, in large measure, the State is their weapon of choice.

Sackerson said...

Yup, systems are run for the benefit of managers.

Paddington said...

It's already happened. Recall that they told us that we were 'investing' when buying stocks, ignoring the fact that the companies didn't directly benefit from increased stock prices.