“Too big to fail” has and now “We the People,” are funding yet another “Puppet Regime,” this time not some foreign dictator who’s “our son of a bitch,” but the cartel of financial corporations who still have the leverage to bring the economy down. Really, the term should be “too rich to fail,” because how else can one explain how AIG, 80% owned by US taxpayers (The tab is $170B so far), can pay out $100M in bonuses because, as their CEO says, they are legally obligated, yet the United Auto Workers, a union representing blue-collar employees, had to make contract concessions before GM could receive a mere $25B of bailout bucks?
Just like OPEC could cripple our economy by shutting off oil as they did in the early 70’s, our financial institutions can do worse damage by shutting off the money. The “leverage” these men (well, the leadership of these rackets are dominated by men) have is that they are already rich, and will not lose homes to foreclosure or health insurance from job loss. They are all set financially and likely lack the conscience to give a damn if the rest of us circle the financial drain together, including President Obama. AIG, at the summit of arrogance, has so far refused to open their books to federal auditors. This company would not exist if not for taxpayer money, yet they know their people on the inside like Tim Geithner and Larry Summers will help keep the curtains closed while propping up their puppet theaters.
Over the years, many of the puppets we supported like the Shah of Iran and Diem and Thieu in Vietnam caused the United States incalculable losses of human life and treasure. We’re still paying for the sins of our puppet the Shah and he was ousted 30 years ago. There’s no telling how much our US corporate puppets will cost us. We haven’t even ousted them yet.