Purge the Rottenness.
Big Picture had a link to this interesting story from the depression about Treasury Secretary Andrew W. Mellon, who was then one of the richest men in the US.
I seriously have a problem with the wealthy constantly making decisions for the masses that imho tend to enable further wealth for them at the expense of the masses.
But, the comment from Mellon is attention getting:
Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate,” he said.
“It will purge the rottenness out of the system,” he added, and values “will be adjusted, and enterprising people will pick up the wrecks from less competent people.”
Seriously, forcing everyone into liquidation, who'd be buying?
Certainly I agree that there has to be some hardship dished out for the gross irresponsibility and incompetence and some accountability. But there has to be some management in terms of how far it spreads.
At the same time, I think people have to adjust their attitudes. I keep saying that pensions can not afford what they've promised and most can only afford about half of what they say. I mention this a few times to a friend and it just doesn't go in. He insists they've paid for their pension, but the math clearly shows this isn't true. Most of us would be hard pressed to show that what we've paid even comes a little close to what was promised, yet we hang onto this believe of entitlement at the expense of those that would fund the program and at the same time be severely handicapped to provide for themselves due to the excessive burden. This already happening big time and most are simply looking the other way rather then being realistic, reasonable and fair.
A lot of what we are dealing with is about the gross greed of wall street over any sense of humanity, but, who are the players that allow wall street to do this? A large player is the pension funds. Their drive to try and make something out of nothing to fullfull unsustainable promises enables wall street to cash in and strip them further.
If we had realistic perceptions and goals in the first place I think a lot of this could have been avoided.