You're currently reading an archived version of Jim Hightower's work.
The latest (and greatest?) observations from Jim Hightower are only now available at our Substack website. Join us there!
Wall Street arrogance seems to be accelerating even faster than our infinite cosmos is expanding.
It’s not enough that the greed and illegal acts of giant financial conglomerates crashed our economy; not enough that they demanded and got a full taxpayer bailout; not enough that no Wall Street executives went to jail for their frauds: not enough that they prevented any restructuring of their too-big-to-fail financial oligarchy; and not enough that they’ve gone right back to their profiteering casino scams that are setting us up for another crash. Now, consumed by conceit, they are demanding our respect.
Enjoying Hightower's work? Join us over at our new home on Substack:
In fact, the spoiled Barons of the Street are presently throwing a petty political tantrum, screaming that some US senators are not being sufficiently friendly and deferential to them. Thus, executives from Citigroup, JPMorgan Chase, Bank of America, and Goldman Sachs have been insisting that such senators as Elizabeth Warren and Sherrod Brown be more respectful and soften their tone toward Wall Street.
To put some swat in their snit, the bankers are threatening to withhold campaign donations to the Dems. Citigroup has already held back its annual donation to the Democratic Senatorial Campaign Committee, expressing concern that Senator Warren might be given more power. Yes, Wall Street’s gaseous ego is so inflated that it feels entitled to dictate the assignments and power that a US senator can have. Likewise, Reuters reports that JPMorgan was so upset that it met with Democratic Party officials to stress that its campaign donations are dependent on “a friendlier attitude toward the banks.”
Dear Wall Street: Imagine how upset We the People are that you’re upset. Get a grip – trying to buy respect only diminishes what you have… and you don’t have a dime’s worth to spare.
“Exclusive: Upset by Warren, U.S. banks debate halting some campaign donations,” www.reuters.com, March 27, 2015.