How come these guys, who created this corrupt financial system of toxic mortgages and credit default swaps can have so little shame that even after the mess they made while making themselves into Masters of the Universe (the financial system grew to be a much bigger share of American corporate wealth than it had ever been) these guys are still shamelessly trying to game the system for as much bonus money as they can get.
If one looks at how it is that various corporations 1) wrote loans to people they knew couldn’t pay, 2) sold bundles of shaky credit hidden in packages sold as AAA secure debt, 3) approved such unrealistic ratings, 4) wrote insurance policies on defaults they didn’t have nearly the assets required to back them up; how it is that government removed all the barriers, erected in the last Great Depression, to prevent such disasters—if one looks at all this one finds the same set of insatiable greed and indifference to the public good and shirking of responsibility that you will come up against when you try to get your health care and education (etc.) agendas enacted.
[From my notes:
Our national slide toward bankruptcy is the outward and material sign of the moral bankruptcy that expressed itself through these greedy and unscrupulous financial and political players.
So why not fight them here and now, on this ground. Get firmly onto the right side of the morality play and use it to expose the economic forces, the moral bankruptcy, the political corruption that will be your enemies in all the battles to come.
Here is where you can weaken them. Here is where you have the attention and the passion of the American people poised to achieve the major shift of perceptions and values and allegiances that are essential to move from the society we’ve become over the past three decades into the society you want us to become.
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