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Corporate Sponsor
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CNBC
Commentators Defend 'Fat Cat Bankers', Show No Remorse for the
Little Guy
Staff Reporter, OpEd
Last Updated:- Jan. 21, 2010 - 5:45pm EST
(NEW YORK)--If you were to
listen to CNBC, or other pro-Wall Street pundits who seem to live
in a bubble, you would think that the banks can do no wrong, and
people should just eat their cake and like it.
As Obama proposes restrictions on risky investments, especially
for large financial institutions who just so happened to be
rescued through government intervention, special interest pundits
hit the airwaves blaming the government, and not the parties that
caused this crisis with their own greed.
Many of these talking heads still go off to their corporate
junkets, and fail to realize most people don't have private car
services to and from work, but rather live check-to-check in an
ever difficult economy. Take a listen to Larry Kudlow, or Maria
Bartiromo, and one would think the recession is over, and that people
complaining about their difficult situations are just 'whiners'.
They fail to realize the real effect these institutions with their
leveraged trades have caused. The countless cases of stress related heart attacks,
cancers, suicides, and family break-ups, which will reverberate
with the kids for years to come, because the banks need
their profits and forced foreclosures. Wheter it's the banks
taking swine flu vaccines from pregnant women and children,
raising banking and overdraft fees on struggling Americans, or
skimming transaction costs for Haiti disaster relief donations,
the banks continue to show a lack of respect or heart for the
common man.
Some of these pundits say that these banks are free to do what
they want since they have paid back their government TARP
infusions, with interest. So, in that sense, if we were in World
War 2 again the banks would justify investing in the Nazi economy
as they should be free to achieve maximum profits where ever the
can.
These talking heads sit at home eating their prime cut steaks,
while many Americans wonder if they will have a job, and how they
will come up with next months rent. Let it be known, that these
pundits, and republican defenders of the banks will have to answer
to the people come the fall of 2010.
But, for now, these financial talking heads just say, 'let them
eat cake'.
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Email: info@wallstreetnewscast.com
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