Tag Archives: pension funds

Stacy Summary:   The Naked Capitalism post discusses something that Max and I ask frequently on our radio show – where is the outrage?  I don’t get it how Americans seem so docile in the face of the theft, but I think it goes with the “conspiracy theory” meme.  Meaning that large chunks of the ‘intellectual class’, for example, determine that it is a conspiracy theory to say that the President would order troops onto US soil.  So when information emerges that indicates Cheney tried to order troops deployed to act as police, an important part of the media have already dealt with the possibility in their head as something that only wackos care about, so they do nothing.  Regarding the docility in the face of crimes against their wealth, most are also brainwashed by media and friends that to protest as Europeans do is ‘socialist’ or ‘anti-capitalist.’   Also, when the top bosses of pension funds are still receiving multi-million dollar bonuses despite wiping out your pension fund, many Americans don’t say anything because they hope to be that pension fund boss that can similarly operate in this manner and so don’t want any regulation to stop it.  That’s my Sunday morning theory . . . what do you think?

• Man passes out in underwear atop Wall St Bull (h/t Madge)

• Why are North Americans so un-outraged at theft of their pensions? (Naked Capitalism)

Updates:

• Robert McHugh: Major economic collapse coming

A $13 trillion tax rebate program would instantly revive this economy, a refund of three years income taxes to every household, with a minimum payment of $50,000. Half the rebate should be required to pay back debt, which would clean up credit markets, and restore capital levels, asset quality, and liquidity of lenders.