Paul Krugman is a Nobel Prize-winning economist who should be the US Secretary of the Treasury. Instead Obama has chosen a man, Jack Lew who accepted a $940,000 bonus from Citigroup in early 2009. At the time, Citigroup had received a $45 billion bailout and was about to get an even bigger federal guarantee. Lew apparently thought it to be ‘morally acceptable’ to take the money from an ‘insolvent’ company receiving federal aid.
Obama’s appointment of such a self-serving disrespectful ass for a member of his cabinet says as much about Obama and where he is coming from as it does for Jack Lew. Both are Wall Street corporate shills. Obama mentioned job creation once in his State of the Union speech last night and it was in the same sentence with “tax reform.” In Washington DC, “tax reform” is code for tax breaks for Wall Street investors. If “tax reform” was a solution for Job Creation, we would not have unemployment today because “tax reform” is about all that has been offered up by EITHER party for the past 13 years.
Krugman has been critical of Wall Street’s current practices and of the industry’s ability to escape punishment for its role in the financial crisis. In a February interview with Playboy, Krugman said “It’s hard for me to believe there were no crimes. Given the scale of [the financial crisis], given how many corners were being cut, some people must have violated laws. I think people should be in jail.”
Krugman is just trying to be polite, or perhaps avoid litigation but all Americans know that the leaders on Wall Street have committed crimes against the people AND furthermore that they continue to commit crimes against the people and get away with it.
Lloyd Blankfein and his commodity traders of Goldman Sachs should be tried for crimes against humanity and more.
Wall Street CEOs like Lloyd Blankfein mock the the law at every turn and get away with crimes that would have ordinary citizens facing capital punishment charges. They are living proof that the rich literally get away with murder in the USA.
Even as the CEO Lloyd Blankfein of Goldman Sachs claimed a few months ago that the bank had stopped trading on its own account, a secretive unit at Goldman’s gleaming Manhattan headquarters was using $1 billion of the firm’s money to do exactly that, according to an exposé by Bloomberg News. (Note: The Obama Department of “Justice” announced in January that they will not prosecute Goldman Sachs for these crimes. Again it amazes me that some conservative lunatics still call Obama a “socialist” when he is more of a Republican than they ever will be.)
As for Lloyd Blankfein, he still has miles to go before outdoing the crimes against humanity committed by Goldman Sachs commodity traders in 2008. The Food Bubble: How Wall Street Starved Millions and Got Away with It