In the midst of all the bailout hullabaloo I'm reminded, yet again, that there is a small, finite group of people who seem to profit from every move the Bush administration makes. Tax breaks? They get the biggest benefit. War profit? Again, they win. Shrinking entitlement programs? Tada! this small, ill defined, and unidentified group seems to always come out on top.
This evening, "host's" excellent diary Would You Recognize a "Coup In Progress" If You Saw One? reminded, yet again, that some small, ill defined group of people always seem to benefit by large government expenditures. If you haven't read host's diary, here's one rub: the top one percent of US society owns 62.3% of business assets, the top 5% owned 93.7 % of bonds. Bonds that might go belly up if there were no bailout.
It seems only fair that, if we're going to be bailing out every rich Tom, Dick and Harry, who owns stocks, or bonds, of these mortgage investment banks, then I WANT TO KNOW WHO OWNS THESE INVESTMENT BANKS. And there's no time like the present to ask. Let's add a couple of lines in the bailout bill to find out just whom we're bailing out. Thoughts?