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class warfare

Main Street vs. Wall Street: Americans on the Bailout: We're Pissed!

from Yahoo! Finance:

It's pretty obvious to anyone paying attention: a majority of Americans oppose the bailout plan passed last night by the Senate and heading toward the House.

... Many Americans seem to understand the "real" economy -- i.e., Main Street -- will suffer if the plan fails, but they still oppose it and view it as a bailout for Wall Street "fat cats."

"I've lost my money because of these idiots, now they want me to subsidize their losses too???," Yahoo! Finance user "hoser48" wrote yesterday. "They can go to hell with the common man, we will all live together as equals then. A bailout is not the answer."

Clearly that sentiment isn't universal, and Monday's 778 Dow dive did change many people's view. But it's also true the mood in the country is ugly, and it didn't happen overnight.

Todd Harrison, CEO of, has been warning about the threat of "societal acrimony" for some time.

The last few years highlighted the chasm between the 'have’s' and 'have not’s,'" he writes. "While the former middle class has struggled for some time, the comeuppance of the upper echelon has arrived. The voluntary thrift that will now manifest as a result of this culture shock will permeate an already fragile socioeconomic structure."

Note the "screensaver" image for the above video: the Peter Finch character in Network (1976), screaming "I'm as mad as hell and I'm not gonna take this anymore!"

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