"If we said we're not going to have as big bonuses or the same bonuses as last year, I think then you'd find that lots of City firms could easily hive off their operations to Switzerland or the far east."
See, tolerate the inequality for your own good.
"Eight months ago it looked as if Wall Street was in store for strong financial regulation" [Robert Reich]:
-- oversight of derivative trading, pay linked to long-term performance, much higher capital requirements, an end to conflicts of interest (i.e. credit rating agencies being paid by the very companies whose securities they're rating), and even resurrection of the Glass-Steagall Act separating commercial from investment banking.But, he says, "The politicians who put off Wall Street regulation for ten months knew that the public would probably lose interest by now."
How's that inequality tolerance going in Alabama?
After the Billionaires Plundered Alabama Town...
[AlterNet]
For a lot of Americans, the sight of troops occupying their towns is their worst nightmare come true --
But what even the right-wing anti-government people won't report is the true reason why the Army was called out in the first place, something that goes right back to the cause of the shooting rampage: billionaire exploitation of the local Alabamans, not just by the chicken oligarch, but from higher up the predator food chain -- Wall Street banking behemoth JP Morgan Chase.
We may need more ad blitz on this Inequality Tolerance program.