The Obama Administration has announced its plans to severely curb top executives' compensation at the largest banks which have received the bailout money. The rationale given was more or less to keep social justice. I have been thinking about the true reasons for this move and its timing.
The overall effect for the economy is going to be hardly noticeable. Whether these "brightest and most talented" crooks steal $5 million or $5 billion from us is not going to make a huge difference to any one of us. But it feels good to have them "feel the pain" where it hurts - in their pockets where they keep their hearts. So I had to come to the conclusion that the real reason for this populist decision was the desire to quell public anger. This shows that the people in power are becoming aware and afraid of the public sentiment. This is a small bone which Wall Street and their people in Washington are throwing to the people on Main Street. In old times, a prince could have rolled out barrels of wine for the mob to drink and be merry, or give out a witch who caused the drought for the crowd to quench its thirst for blood. The purpose is the same - to divert the anger from the rulers to some other cause or an individual. In our "civilized" times Washington sacrificed the top bankers.
The timing is very telling. Who is not going to be affected by this decision? Goldman Sachs which "paid the public" back the TARP money having helped themselves to the public riches handsomely. Goldman Sachs whose alumnae are prominently represented in the Administration. So Washington waited long enough till the people they wanted to save were saved, and then sacrificed the other "bad guys".
People in Wall Street want to preserve the American matrix and the circle which runs it. They realize that the public is waking up in their bubbles and starting to realize how this society truly works, and who pulls the strings. To realize that the role of the public is hardly more than that of aphids which are being milked by hungry ants, but are happily unaware of that. The matrix will do anything to save itself. And rightfully so! Unfortunately, the destruction of the matrix would bring a long period of extreme hardship upon everyone. The price would be simply too high to pay for social justice, or the illusory hope for attaining it.
The saying that ignorance is bliss has never rung more true. I want to go back into the matrix, and I wish I were not even aware of its existence. I want my pink glasses back!
The overall effect for the economy is going to be hardly noticeable. Whether these "brightest and most talented" crooks steal $5 million or $5 billion from us is not going to make a huge difference to any one of us. But it feels good to have them "feel the pain" where it hurts - in their pockets where they keep their hearts. So I had to come to the conclusion that the real reason for this populist decision was the desire to quell public anger. This shows that the people in power are becoming aware and afraid of the public sentiment. This is a small bone which Wall Street and their people in Washington are throwing to the people on Main Street. In old times, a prince could have rolled out barrels of wine for the mob to drink and be merry, or give out a witch who caused the drought for the crowd to quench its thirst for blood. The purpose is the same - to divert the anger from the rulers to some other cause or an individual. In our "civilized" times Washington sacrificed the top bankers.
The timing is very telling. Who is not going to be affected by this decision? Goldman Sachs which "paid the public" back the TARP money having helped themselves to the public riches handsomely. Goldman Sachs whose alumnae are prominently represented in the Administration. So Washington waited long enough till the people they wanted to save were saved, and then sacrificed the other "bad guys".
People in Wall Street want to preserve the American matrix and the circle which runs it. They realize that the public is waking up in their bubbles and starting to realize how this society truly works, and who pulls the strings. To realize that the role of the public is hardly more than that of aphids which are being milked by hungry ants, but are happily unaware of that. The matrix will do anything to save itself. And rightfully so! Unfortunately, the destruction of the matrix would bring a long period of extreme hardship upon everyone. The price would be simply too high to pay for social justice, or the illusory hope for attaining it.
The saying that ignorance is bliss has never rung more true. I want to go back into the matrix, and I wish I were not even aware of its existence. I want my pink glasses back!
No matter how evenly you redistribute the wealth among people now, it will end up in the hands of the Chosen Few then...
ReplyDeleteYou are right on about the timing of the proposal. The matrix will not totally fall, some people end up on top no matter what, but there should be a shake up and it will be interesting to watch what happens.
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