EgbertoWillies.com

Political involvement should be a requirement for citizenship

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#TeaParty SEE WHO IS TAKING YOUR FREEDOM & WEALTH: Shorting The Middle Class: The Real Wall Street Crime #p2 #tcot

April 19, 2010 By Egberto Willies

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Shorting The Middle Class: The Real Wall Street Crime

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The press is all abuzz with news of the SEC suing Goldman Sachs for fraud. While this is certainly big news in itself, even more important is what it says about what the financial elite has been doing to America for the last 30 years: shorting the middle class.

The SEC’s action is a perfect moment for us to look at the bigger picture of how the American people were sold on the promise of never-ending prosperity while Wall Street was overseeing a massive transfer of wealth from the middle class to the richest Americans.

The results have been devastating: a disappearing middle class, a precipitous drop in economic and social mobility, and ultimately, the undermining of the foundation of our democracy.

Thirty years ago, top executives at S&P 500 companies made an average of 30 times what their workers did — now they make 300 times what their workers make. And between 2000 and 2008, the poverty rate in the suburbs of the largest metro areas in the U.S. grew by 25 percent — making these suburbs home to the country’s largest and fastest-growing segment of the poor.

The human toll of the shorting of the middle class is brought to life on sites like Recessionwire.com, LayoffSupportNetwork.com, and HowIGotLaidOff.com where the casualties of Wall Street’s systemic scam share their personal stories.CONTINUED

Arianna Huffington: Shorting The Middle Class: The Real Wall Street Crime

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About Egberto Willies

Egberto Willies is a political activist, author, political blogger, radio show host, business owner, software developer, web designer, and mechanical engineer in Kingwood, TX. He is an ardent Liberal that believes tolerance is essential. His favorite phrase is “political involvement should be a requirement for citizenship”. Willies is currently a contributing editor to DailyKos, OpEdNews, and several other Progressive sites. He was a frequent contributor to HuffPost Live. He won the 2nd CNN iReport Spirit Award and was the Pundit of the Week.

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