WALL STREET GETS A WAKE UP CALL

On July 31, 2009, I read an article titled “House Votes To Restrict Wall Street Pay” by ANNE FLAHERTY
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I then saw the following comment:
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“The clowns in Washington have no authority to dictate wages in the private sector. The public is outraged because these same Washington clowns robbed the U.S. treasury to make sure that a bunch of billionaires didn't suffer market losses. If there was no taxpayer bailout of private corporations, then nobody would care what these stupid corporations were paying their employees.”
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My reply to that comment:
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The government does have authority to dictate wages in the private sector. It's called the minimum wage.
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Let's get some things straight. This economy prospers when you have a strong Middle Class. The Middle Class spends more than it saves. Spending stimulates the economy. If all the labor costs are concentrated at the top, then the economy suffers. The top saves more than it spends. Savings/investments are good because that money goes towards investing in new business/

r­esearch/bu­siness expansion, etc. You want to maintain a healthy balance between spending and investing. Since it is governments duty to make sure this "so called capitalistic system" remains viable, then they are obligated to regulate accordingly. Is this a tricky thing to accomplish? Yep!
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2% of the population now control 80% of the wealth in this country. This is not a healthy thing for our economy or any economy. Right now, the deck is stacked against the Middle Class because Wall Street was allowed to run wild and big business had practices that were corrupt and harmful to the public. Go on over to the PBS website and click on the tab "expose". You'll get a flavor of what happens when you allow big business and Wall Street to go unchecked.
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You can not sustain a growing economy when "too big to fail" businesses go unregulated and the ratio of spending to savings (plus throw in debt) get out of balance.

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WIKI: WALL STREET

AUTO BAILOUT: SENATE REPUBLICANS OPPOSE LOAN TO AMERICAN AUTOMAKERS

The Senate Republicans who opposed the bridge loan to the auto makers have spoken; they've said 5 things.

1. That Wall Street matters more than Main Street
2. That this is about Union Busting
3. That this is about the (union busting) South vs the North
4. That this is also about White Collar vs Blue Collar
5. That this is about what’s good for their state (Southern Republicans) and their connections to foreign auto makers vs what’s good for the economy and allegiance to American automakers

Read more about the Auto bailout at the Huffington Post:
Auto Bailout Failure Could Mean The End For GM, Chrysler