Ayn Rand - The Spirit of Economic Ingratiation
One of the biggest failures of governments worldwide, and in particular the US, is the way governments have handled declining home values. This has wiped out much of the savings of many folks just nearing retirement who have little time to make up ground. It has put young people in a lifetime earnings hole which will be difficult to dig out of. And most of all, it has robbed from the diligent well-behaved savers and given that money and then some to the banks.
The Ultimate Insult Given By The Obama Administration
After years of watching our government allow innocent friends and neighbors be screwed by Adam Smith's invisible hand, the ultimate rebuke from our government comes by taking away our right to legally address our rapist.
Foreclosure settlement: a nationwide crime scene
ALL IN (MSNBC) - Banks are foreclosing on military members, on people who had been approved for a loan modification, and even on people who were never behind in their payments--all part of an astounding settlement that shortchanged millions of homeowners and left hundreds of thousands wrongfully ejected from their homes.
Former Governor Elliot Spitzer; Alexis Goldstein, former Vice President at Merrill Lynch and Deutsche Bank, now an Occupy Wall Street activist ; and Faith Bautista, who was the victim of wrongful home foreclosure in 2009, join Chris Hayes and paint a stark picture of what happened, who is responsible and why there isn't more justice from the government.
Visit NBCNews.com for breaking news, world news, and news about the economy
It is not like we didn't have a actual good example to follow from the 1930's depression and a depression-era scholar (Ben Bernanke at the helm of the Federal Reserve) to guide us through the mess. It didn't have to be this way. We could have taken a bit of the billions of the trillions given to the big banks and bailed out homeowners instead, or in addition to. And even if a few undeserving homeowners had been helped, then at least all the deserving and innocent would have been spared. But we didn't because some in our society would rather punish a few undeserving at the expense of helping out the many deserving.
Means of Self-Aggrandizing by the Truly Undeserving.
Mentioned just three times in Adam Smith's writings, the "invisible hand" or free marketism has become an important "golden calf" in the sweaty palms of the adolescent Ayn Randers and economic libertarians. And that has given us our current government gridlock which prevents us from escaping Adam Smith and his fairy tale free market "invisible hand". It has given us the Tea Party (which is waning) and their more enduring philosophy of punishing the few slightly-undeserving at the expense of the deserving as a means for self-aggrandizing the truly undeserving.
