Let Them Drown: A Case For Corporate Euthanasia
Three years after raping taxpayers to the tune of $4.6 trillion to bail out Wall Street, under the lie that it would help the economy and housing market recover, both are still in the dumps. Thebursting of the housing bubble caused $6 trillion in lost wealth so far, and an additional $2 trillion is still expected. As a consequence, working and middle class homeowners saw the bulk of their wealth disappear overnight and there is still no light at the end of the tunnel.
The wealthy and their politician allies argued that extended tax breaks for the richest Americans and their corporations would create jobs, yet millions of Americans are still out of work. They also said that if we did not bail out the banks and automakers, that it would worsen unemployment. Yet the UAW signed concessions with the automakers that resulted not only in layoffs, but declining pay and benefits for those who were lucky enough to keep their jobs, while