Glenn Greenwald on public reaction to AIG bonuses


The virtues of public anger and the need for more

We are not suffering from an excess of citizen outrage, but rather, from a lack of it

Greenwald makes a strong case for our need to be angry at the clear oligarchy our nation has become.

The public rage we’re finally seeing is long, long overdue, and appears to be the only force with both the ability and will to impose meaningful checks on continued kleptocratic pillaging and deep-seated corruption in virtually every branch of our establishment institutions. […]
In condemning Geithner’s “bank rescue” plan, Paul Krugman notes that — yet again — it enables great benefits for the richest investors, with the public protecting them from the risk of losses (privatize gains; socialize losses), and concludes: “The Obama administration is now completely wedded to the idea that there’s nothing fundamentally wrong with the financial system.” When it comes to its primary challenge, the administration elected on a platform of “change” is, above all else, viciously devoted to preservation of the status quo. [emphasis mine]

It is high time we demand that our government put real controls on these people who daily steal from the rest of us. And responses to crises such as they have created should not simply continue to enrich the very people who made the mess in the first place. What to do? Here’s my bottom line. Let the failing banks fail. Take the financial power from those who created this mess. Break the bonus contracts with the financial elites, the same way you break contracts with unions.

To close, let me quote Greenwald again:

A political establishment that can function without any fear of the citizenry will inevitably trample on its interests. That is what has been happening more than anything else. And it is why we need far more public outrage, and fear of that outrage more deeply implanted in the minds of our political and financial elites.

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About Janet Logan

Well educated woman, transgender / transsexual, lesbian, Reiki practitioner, LGBT activist, polyamorous, and eclectic Pagan.
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