One of the reasons that the political elite, specifically Barack Obama, who made a point during his campaign of stressing both his and his wife’s humble origins (which in his case were mostly fiction and in hers are vastly over exaggerated) are so removed from the opportunities both had, not to mention the pain faced by the vast majority of Americans today, is the increase in an oligarchical, class based society, based on income disparity, which has widened dramatically over the last thirty years. And Obama has no intention of stopping the trend.
While not ostensibly “criminal” in nature, the growing gaps between rich and poor create many opportunities for exploitation simply based on things like lack of education, or no access to capital, which is actually yet another sign of a white collar criminal society. Why? Because such wealth disparities are created deliberately by political decisions. And the ruling elite is as already discussed, just as much a white collar crime driven racket as the companies they are supposed to oversee and regulate.
It is sort of a fox guarding the hen house proposition. In the days of Prohibition, to make an analogy, only the special “friends” of the owners could get into the illegal speakeasies.. The Growing Influence of the Banks & Corporate Criminal Culture There are those who would argue that this is also a direct influence of the growing power of the banks in every aspect of the American economy and politics.
But for the administration, much less Congress to even think of hoodwinking the American public that “banking reform” means limiting Wall Street Executive paychecks when top executives are actually paid more in bonuses and other compensation, is so cynical, it shows that this administration has no real intention of serious financial industry reform. Not to mention the disparities between what Wall Street executives get paid vs. the average salary in America.
Figure 2: The disparity between Wall Street compensation vs. Main Street compensation Given Wall Street’s massive wrecking of the global economy, and it’s sole source of outrageous bonuses being sourced by the Fed, not to mention ruinous legislation and other economic policies that benefit them ahead of everyone else, it’s hard to argue that they deserve to be compensated as the “best and the brightest” no matter where they went to school. Or what gender they are. They don’t seem to be adding much value to society.
In fact quite the opposite seems true when looking squarely at the damage they’ve already caused and are arguing strenuously to be allowed to commit some more. In fact this is the damage, in terms of the life blood that the banking industry has done just to OTHER COMPANIES, in turns of the toll it takes ON THEM. If the profit margin between Wall Street Banks and other kinds of companies is so disparate, one can only think of the Wall Street Banks as a culture of White Collar Criminal Vampires, sucking, literally, the life blood out of almost every aspect of America.
In other words, serial corporate killers. Part of the problem to real reform is that those who should be doing it, are loath to do so because they are part of the same elite as those they should be punishing. And the elite don’t like punishing each other, since by definition, the elite seem to think they are above the law. Nowhere is this better illustrated than in the actions and indeed words of Mr.
Obama, even though he stresses his modest roots, who entered Harvard with both minority and legacy advantages, not to mention had a grandmother who worked at a bank to cosign any additional necessary loans (a situation unavailable to almost everyone so his tale of hardship and exclusion is an illusion already) believes that Wall Street executives who are mostly white, privileged men, born to wealth, and graduated from highly expensive private schools (from the time they could walk) and thus is how they get hired in the first place, “earn” their pay, since they are truly the best and the brightest merely by occupying a cubicle.
Not to mention are his societal equals because they all went to the same exclusive schools. It is at once both the ultimate hypocritical snobbery, but also a sign of something worse. The rise of a class in society that thinks it is above the law just because they are rich or have the outer trappings of the “elite. ”