argues that we do. Not
only that, he has grounds for believing they are putting the rest of us out
events paint an ominous picture of a Master Class that is now in total
When 90% of the American people vehemently rejected the $700,000,000,000.00
($700 billion) TARP bailout plan, the Master Class put it on a fast track and
approved it anyway.
When a clear majority of the American people said no to a government takeover
of Chrysler and GM, the Master Class poured billions of taxpayer dollars into
those corporate sinkholes and took them over anyway.
When the people said no to multi-trillion dollar crony bailouts for the
bankers and insurers whose corruption had caused global financial mayhem, the
government pledged to those elite insiders more than $13,000,000,000,000.00
($13 trillion) of the people’s money anyway.
When the people expressed astonishment and anger that Wall Street planned to
pay itself record 2009 bonuses, in the midst of America’s worst-ever
fiscal and financial crisis caused by them, Wall Street stuffed its pockets
with taxpayer-supported bonus money anyway.
When the people said no to a proposed $40,000,000,000.00 ($40 billion)
bailout of AIG and its elite trading partners such as Goldman Sachs (an
amount that subsequently exploded to $180,000,000,000.00+ ($180+ billion)),
the Master Class went underground, covertly misappropriated taxpayer money
and made the payoffs anyway.
When Fannie Mae and Freddie Mac were nationalized at enormous taxpayer
expense, the government approved $6,000,000.00 individual pay packages in
2009 (150 times the average American wage) for the CEOs of both failed
When a clear majority of the people said no to nationalized health care, even
after being bombarded by a multi-million dollar, lie-drenched propaganda
campaign designed to bamboozle them, the House and Senate passed nationalized
health care bills anyway.
When more than seven million American workers lost their jobs and were
subsisting on unemployment benefits and food stamps, federal government
employees, who now earn DOUBLE what private sector workers earn, were given
another round of pay and benefits increases anyway.
When private sector workers’ 401Ks and IRA retirement plans plummeted
in value due to economic collapse and endemic Wall Street-orchestrated market
corruption (including systemic front running, flash trading, naked short
selling and other manipulations), government “defined benefit,”
lifetime-cost-of-living-adjusted pension plans, despite already being
underfunded by $2,000,000,000,000.00 ($2 trillion), were made richer than
The long, shameful litany of events signaling the total divorce between the
Master Class and the people of the United States doesn’t stop there. It goes on and
George F. Smith
Read his book : The
Flight of the Barbarous Relic
Visit his website
Read his blog
George F. Smith is the author of The Flight of the
Barbarous Relic, a novel about a renegade Fed chairman and the editor of