Irish Fly Half

Predictably, Wall Street and its lobbyists in and out of Congress are fighting back against assaults on public acceptance of its, “Screw You, Pay Me” mentality.

A headline in the Independent characterizes that as protection [racket] for its “bonus culture”. I think it’s more like Cheney’s media blitz. Its purpose is to protect status and keeps its worst perps out of jail. News reports of Eric Holder’s frequent yawning at his desk should put Mr. Cheney at ease.

Bonuses are a small protruding object on a larger mass. So is Cheney’s self-serving worry that abandoning torture will itself lead to new terrorist attacks. Mr. Cheney isn’t worried, for example, that John Yoo may face bar discipline or termination of his tenured position at UC Berkeley’s prestigious Boalt Hall School of Law. He is worried such things may mean that the fingers are being removed from his wall of silence and that the voices of those he damned may come tumbling through.

As the Independent’s article points out, CongressCritters’ taxing of bonuses is market opportunism, taking advantage of the public’s temporarily well-focused anger. It doesn’t touch the fundamentals of regulating the underlying financial businesses. It doesn’t investigate or prosecute any wrongdoing associated with the current debacle. It’s just refried beans.

Alarmingly, it doesn’t rethink the current roles assigned to government (throw money, remain passive) and the market (untouchable, but takes all the money not nailed down) or the theater directors in Obama’s administration who advocate them (Summers and his court fool, Geithner).

More interesting for fans who think that EW might have been missing for a few hours, glued to her HDTV or the bar stool next to Mr. EW, “O’Driscoll, O’Gara, Oh, Ireland have only gone and done it”. Ireland has won the Six Nations rugby contest, their biggest win in this international tournament since 1948. Erin go bragh.



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