While discussing the proposed tightening of regulation of Wall Street, the mayor noted that some of the union protesters who staged a rally against budget cuts this week outside City Hall had railed about “getting even with bankers.”Uh, no Moneybags, you're here to defend bankers and your other financial cronies.
The mayor suggested that since taxes from Wall Street earnings and bonuses pay for their salaries, “our cops and firefighters and teachers they should be out there defending the bankers.”
Bloomberg noted one of the protesters had said, “Oh, you know, a lot of these [bankers] were in favor of charter schools… so we’re going to go screw them.”
He quickly corrected himself: “Hurt them -- pardon my language.”
Going on, the mayor said it’s a popular sentiment among the “political chatter class” to be down on bankers and Wall Street financiers and to push for over-stringent regulations, such as banning derivatives.
Such overzealous regulations would merely drive business out of the city or out of the country, damaging the city’s ability to pay its workforce, argued Bloomberg, who nonetheless asserted, “I’m not here to defend bankers, I’m here to defend New York City business.”
These are the men (and they are mostly men) who nearly brought the world economy to collapse in 2008 after they turned Wall Street into one gigantic rigged casino.
They stole money from mom and pop investors and pension funds by selling toxic crap products that they KNEW were nearly worthless and would bring ruin to their customers.
They made commissions on those sales, then BET against the whole thing by shorting the market, knowing the Housing Bubble was soon to burst.
These were the same people who helped created the Tech Bubble and the Housing Bubble in the first place and have now created - with the help of Uncle Ben Bernanke and President Hopey/Changey and their printing press - a Commodities Bubble that will soon burst and leave more mom and pop investors and institutionalized pension funds holding the bag.
And Moneybags thinks we - the middle class cops, firemen, and teachers who actually PRODUCE SOMETHING in the economy rather than act as parasitical brokers and movers of garbage paper on Wall Street and London trading desks - ought to DEFEND them?
Well, I will say one thing about Moneybags: at least he's being honest where his sympathies lie.
I just wish the working and middle classes of this city would see that HE DOESN'T GIVE A SHIT about them, that he is only out to enrich himself and his banker and real estate buddies while aggrandizing his ego as THE ONLY MAN WHO COULD SAVE NEW YORK CITY FROM FISCAL RUIN.
So far, that hasn't happened.
His job approval in May was 57%.