The Great Bank Heist of 2010: Wall Street Wins, Main Street Pays -- Again

#Money

Mon, Dec 27th, 2010 10:00 by capnasty NEWS

"This was the year America finally took on the power and greed of the Wall Street banks," tells us Brett Arends of MarketWatch.

But there is no happy ending: the banks won.

"[Banks] dodged the bullet of real reform, probably for all time. They bounced back to post huge profits, helped by legal theft from the middle class. They completed their takeover of both political parties -- and bought themselves a new Congress even more pliable than the old one."

Meanwhile, "Middle-class America is flattened, devastated and broke. The bankers that caused it all have escaped punishment. They're raking in huge profits. Oh, and the tax cuts just got extended for high earners, too! Game over."

  860

 

You may also be interested in:

“People are getting rid of their cash.”
Google's Doodle Tribute to Canada's Vanishing Penny
Living Off Bitcoin for a Week Kinda Sucks
Forget Partisan Politics, Rejecting That $700 Billion Wall Street Bailout Was Smart
No-interest MasterCard Aimed at Devout Muslims