This is simply a tale of having a gun put to your head: vote “yes” or we screw you even harder.
I can’t let Detroit go partly because there is so much to learn from the robbery that took place in the past and is continuing to this day. Today, let’s consider for a moment the price regular workers pay when something goes bad versus the price CEOs never pay when something goes askew. It’s a telling story about the deep corruption of the system.
I mean this in a couple of ways. If people in Detroit were all named “Jamie Dimon,” a bailout would be on its way, free and clear, low-interest, no questions asked, the same kind of bailout JP Morgan Chase’s Dimon and his gang of thieves on Wall Street were able to pocket after they cratered the economy. But, barring Dimon being an actual whore, not simply a financial one, the familial connection ain’t happening for the people of Detroit — not that they’d really want it. That said, there is a real argument to made: Wall Street should pay for Detroit’s fiscal situation. And I’d propose a surtax on profits called “The Jamie Dimon Surtax.”
Detroit. The filing for bankruptcy is a sad, but, in a way, predictable event — if one is willing to see what this really means. It’s a deep metaphor for the failure of the so-called “free market”.
Ideology is a powerful factor in the way people see things — or don’t see things, either intentionally or because they just can’t. So, when Bruce Bartlett recently wrote about the risks of retiring without a decent pension, it was both comical and bizarre that he chose to ignore the main reason for the destruction of a comfortable retirement.
So, Wall Street got to really fuck workers once — when the greedy bastards who cratered the economy with their foolish games, they put millions of people into the streets, people who lost their jobs because of the greed. While not a single high-ranking financial leader is in jail, the greedy bastards are coming back for a second time to fuck workers — this time trying to screw them out of pensions.
I’ve always chuckled a bit at the annual baseball debate over the rich teams versus the “poor” teams. Face it: it’s not your family business anymore. It’s big business running these teams. And, lo and behold, the vise of greed is tightening around the national past time.
Detroit is about to be savaged — not by the industrial woes that have plagued the city for too many years. Nope, now riding into the city with an axe is an “emergency manager.” And let’s be clear: workers are the target.
Every decade or so, we get a new “gap”. You remember the “missile gap”? Now, we have the “pension gap” — the difference between what sits in pensions funds and what is owed to retirees. But, who caused that gap?
Really. When I read The New York Times editorials about the economy, or the truly shallow reporting from most of the paper’s reporters, often I think: the people at …