When enough people find out they have nothing left to lose, it only takes one good leader - somebody who can whip the crowd into a rich creamy lather - and then they simply come to your penthouse and take what they want.
It's a kind of social extortion that's been going on forever. Most people don't begrudge rich people being rich. It's being said more often in the press now, but most Americans are OK with unequal results; even when it's obvious you never worked a day in your life to earn it and you just got lucky and won the birthright lottery. Good on you. Fuck a super model for me. Who knows, maybe I'll get my chance some day and we can fuck one together. But when the game is rigged, and everybody knows it's rigged, and a bunch of Silver Spoon Legacy Pukes are out in the open about trying to make sure it gets even more rigged, then we gotta a problem, son. The unwashed masses will sit still for a lot as long as they believe they have a legitimate shot at makin' it big someday. The economy is Confidence-based in more than just a paper money kind of way. Once that confidence is betrayed, everybody loses everything.
The whole game was based on one new innovation: the derivative instruments like CDOs that allowed them to take junk-rated home loans and turn them into AAA-rated instruments. It was not Barney Frank who made it possible for Goldman, Sachs to sell the home loan of an occasionally-employed janitor in Oakland or Detroit as something just as safe as, and more profitable than, a United States Treasury Bill. This was something they cooked up entirely by themselves and developed solely with the aim of making more money.
Read more: Rolling Stone's Matt Taibbi
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