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While Wall St. flourishes, Main St. flounders
Key Excerpts from Article on Website of San Francisco Chronicle (San Francisco's leading newspaper)
Posted: September 7th, 2011
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/08/28/...
What if we stood up for Main Street? Corporations and elected officials are making decisions that are impacting our lives, and we are at their mercy. Americans, many [of] whose lives have been destroyed by the 2008 subprime mortgage market disaster, resent the lack of accountability on the part of Wall Street for its role in this scandal. Few have been indicted for the market collapse and resulting meltdown of the global economy. After the federal government bailed out the financial institutions, it is back to business as usual. Corporate profits are accumulating and bonuses are raining down on the very players who created the bubble and crash in the first place. On the other hand, the taxpayers who bailed out Wall Street aren't doing so well. Instead of bonuses, we are suffering from unemployment and underemployment of epic proportions. Homeowners continue to lose their homes to foreclosure, and homelessness is on the rise. Public services, public safety and public welfare funding is being cut back or cut out. Public education has been decimated. American corporations have lost all sense of responsibility for U.S. citizens. While the U.S. economy fights to survive, corporations have turned their backs on those whose tax dollars kept our ship of state from sinking. Sending jobs overseas might improve corporate profit margins, but at what expense to the workforce and U.S. economy? These decisions have devastated American workers' lives. So, what needs to be done? What if we begin to stand up for Main Street?
Note: For a treasure trove of reports detailing the criminal collusion between the federal government and Wall Street financial corporations, click here.
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