Must See: Wall Street’s "Inconvenient Truth"

Filed in Uncategorized by on February 28, 2011 7 Comments

  “Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that’s wrong,” said Charles Ferguson, direction of Wall Street’s own Inconvenient Truth, “Inside Job.” Of course, you’d be fooling yourself into thinking his speech will really change anything… And you’d be fooling yourself if you think the financial scams haven’t continued to this day. It’ll be a cold day in hell when executives are properly jailed for this, but at least Ferguson was able to reignite the anger that most Americans have toward Wall Street. And they have plenty to be angry about… as seen here . Plus, according to Business Insider: “ The industry has made more money since the crisis How disturbing is it that after a crisis of that magnitude and after having to be BAILED OUT in order to survive, the banking industry is still thriving while the average American is barely treading water. Reminds me of a joke I recently read on Facebook: A public union employee, a Tea Party activist, and a CEO are sitting at a table with a plate of a dozen cookies in the middle of it. The CEO takes 11 of the cookies, turns to the Tea Partier, and says, “Watch out for that union guy. He wants a piece of your cookie.” The average salary of a Goldman Sachs employee is $600,000 Honestly, I am less bothered by professional athletes who make that much. It’s despicable that these veritable criminals make 10 times what the average American makes (in some cases more than 10 times). Business Insider points out that the number has gone down — to $431,000 — but is still way, way too high. AIG paid Goldman Sachs $13 billion in taxpayer money Where did those huge salaries come from? Oh yeah! From us! So if you are only making $40,000, never fear. Your tax dollars are making sure someone is making 10 times what you are. Totally fair, right? AIG’s Joe Cassano made $315 million after the company took at least $85 billion from taxpayers There are NO words. None. Lehman CEO Dick Fuld earned $485 million Fuld claims he only made $310 million. Only. Truly, it’s so depressing in this world that so many go about defending these people’s rights to make that much while also vilifying the unions and hard-working people of Wisconsin who just want to earn livable wages and be able to afford health care for their families.” And here’s the video of Inside Job’s win… and a trailer from the must-see documentary…       Must See: Wall Street’s “Inconvenient Truth” originally appeared in Wealth Daily . Wealth Daily is a free daily newsletter featuring contrarian investment insights and commentary.

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Must See: Wall Street’s "Inconvenient Truth"

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  1. Well what can we do to stop that? Or if we cannot stop at all atleast reduce it. Well thanks for sharing I just hope for better.

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