The Fast Money crew brings up some excellent points here. Why should Wall St. be allowed to keep hundreds of millions in bonuses that were made off of this fraudulent housing bubble?
Why is the taxpayer being forced to pay for this mess? I hope the MSM starts to run with this story. Its time for the pigmen give back the bonuses that they made during this ponzi scheme to help pay for this mess. The fact that they kept all of this money is deplorable.
On a political note
I have been a lifelong Republican, but I must admit the financial crisis is starting to sway me over to the left. I am still unsure as to how I will vote this year.
Here is a great commentary from the Baltimore Sun. Perhaps Reagan's trickle down economics was more trickle up as suggested below:
"Maintaining a tradition that has been around since at least the Reagan Revolution, John McCain the other night ridiculed the idea of "spreading the wealth" and accused Barack Obama of playing "class warfare.
"This is the tired Republican knee-jerk that occurs whenever someone in the room - Democrat or independent, academic researcher or nonpartisan think-tank thinker - raises the unsettling issue of income disparity in the United States. Republicans throw the "class warfare" flag whenever somebody gets too close to the story of America in the nearly 30 years since Ronald Reagan brought us trickle-down economics.
And the story is this: Most of the money in this nation during that time has trickled up, not down, and the disparity between the wealthiest 5 percent of citizens and the poorest 5 percent has never been wider. People in the middle haven't done much better than those just below them.
There are two prime reasons for the anger among Americans over the Wall Street meltdown and the ensuing federal bailout: Government at all levels allowed the free markets to build a time bomb of complex and grossly expensive problems that taxpayers are now on the hook to fix, and a million men in suits made fortunes off the smoke-and-mirrors promise of easy credit and ever-rising asset values."
I am still undecided, but commentary such as this really makes me think twice.