TIME TO TAKE IT BACK

BANZAI7--Here is an excerpt from an editorial in Forbes online:

"In the coup de gracelessness of this season of stupidity, Blankfein rationalized his company's obscene payouts by saying that Goldman serves an important "social purpose" by helping companies to raise capital they need to grow. He went on to say he is "doing God's work."

Well, Blankfein actually got the social purpose part right. His expression of total and irredeemable shamelessness did the country an invaluable service, crystallizing the stark dividing line that now exists between the political/economic elites and the rest of us suckers. We have gone long past "they don't get it" territory. It's now unavoidably clear that they won't get it--and we won't get the responsible leadership and honest capitalism we want--until (as I have suggested before we demand it."

(Its Not the Economy Stupid: http://www.forbes.com/2009/11/10/economy-health-care-banks-opinions-columnists-dan-gerstein.html)

It is a well stated commentary on the inability of our political establishment to see the forest from the trees. The healthcare debate, the so called jobless recovery and now Wall Street bonus season are all symptomatic of Washington's insularity, impudence and impotence when it comes to the real issue of the day, the economy.

If you are part of the hallowed few, happy days are here again. Meanwhile, average Americans are really struggling.

In a balanced society, wealth should be reflective of the creation of productive value. Those who are productive deserve to be rewarded generously. I don't know what Steve Jobs will make this year, but I bet you he is underpaid. Contrast Blankfein and the rest of Wall Street. Throw in Mr Beanmush who thinks $10.5 million is not enough for managing an insurance company

These people are not engaged in productive pursuits. They are circulating and recirculating capital and charging toll fees. They are not creating productive value. They are not lending money to or financing job creating businesses. They are throwing cheaply financed Federal money at commodities like oil and gold, emerging market asset surges, riding the stock market out of the trough and flipping derivatives that have little or no correlation with economic production.

Why are we allowing these kinds of people to be grossly overcompensated.

We are not talking about communism. We are talking about the direction of our country. When will Washington realize that is is time to take the country back?

Remember to watch "Its a Wonderful Life" this holiday season.