Krugman’s Op-Ed Is Right On
Good ink from Paul Krugman [NYT 10/9/11]!
During this era of “Occupy Wall Street”:
People who got rich by peddling complex financial schemes that, far from delivering clear benefits to the American people, helped push us into a crisis whose aftereffects continue to blight the lives of tens of millions of their fellow citizens.
Yet they have paid no price. Taxpayers bailed out their institutions, with few strings attached. They continue to benefit from explicit and implicit federal guarantees — basically, they’re still in a game of heads they win, and tails taxpayers lose.
Nothing about what Massachusetts’ Elizabeth Warren said was radical — it was no more than a modern riff on Oliver Wendell Holmes’s famous dictum that “Taxes are what we pay for civilized society.”
So who’s really being un-American here? Not the protesters, who are simply trying to get their voices heard. No, the real extremists here are America’s oligarchs, who want to suppress any criticism of the sources of their wealth.