Banks get bailed out, people get kicked out. That's a lesson I learned during the financial crisis of the past year. I have seen families in my town go through the humiliation of having their furniture carried out and piled near the curb in the rain. Some of them were kicked out the day before Thanksgiving last year. The scene has been repeated ad nauseum and continues to this day, while 2 trillion dollars of our tax money is largely unaccounted for. This was money given to the banks by their buddies, in our name, to not only help the biggest (read greediest) of them stay solvent, but also to ostensibly give loans to people who need them. The only chunk of that 2 trillion that has resurfaced has been in the form of big bonuses for Wall Street execs! What a surprise! Did we truly expect anything less, given the track record of these people who, thanks to the revolving door between big business and government, are all intimately interconnected?
Meanwhile, the foreclosures continue with no end in sight. Disappointingly, but not really unexpectedly, the policies of the current administration are all too similar to Bush and Clinton before, which is why it is so laughable and frustrating to hear the wingnuts call President Obama a socialist. Here's the socialism he is presiding over: The ill-advised speculative risks of large financial corporations are socialized, while the ill-advised financial decisions of the underclass are paid in full. And the cost to them includes the emotional trauma of the innocents; children whose lives are disrupted. How do you even put a price on that?
If you are in or near Chicago this weekend, let the bankers know you are paying attention.