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Jeanette DeMain

Jeanette DeMain
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Nashville, Tennessee,
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January 01
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OCTOBER 3, 2011 2:41PM

The Fallacy of Complicity

Rate: 19 Flag

You know, I've been feeling lately that I don't have much of a stake left in this country that I've always called home, like I don't have control over anything anymore.

Thank goodness New York City Mayor Michael Bloomberg has made me part of something again!  When asked to comment on the group of protesters known as "Occupy Wall Street," he had this to say, according to a recent article in Salon:

The protesters are protesting against people who make $40-50,000 a year and are struggling to make ends meet. That’s the bottom line,” Bloomberg said, presumably meaning service workers on Wall Street, adding that we all share blame for taking on too much risk, not just the financial industry.

I knew I was to blame for something!  Although I didn't kill JFK, invent New Coke, or cause 9/11, apparently  the state of America's economy is my fault!  This line of "thinking" is certainly nothing new, but it's so refreshing to learn from a billionaire that I am his equal in at least this one respect.

I guess if you have any kind of "investment portfolio," you suddenly have the same status as a hedge fund manager or the CEO of an investment bank. Who says egalitariansim in America is dead?

But do people really have a choice? We've come a long way from the days of grandmas owning shares of so-called "blue chip" stocks and buying U.S. Savings Bonds for their grandkids, to being forced into becoming Wall Street "playas."

In 1998, 67% of Fortune 100 companies offered pension plans to their employees (and of course, those pension plans also became the victims of the completely rigged casino game that Wall Street has become).  That has gone down alarmingly fast to just 17% in 2010. What is being offered in place of those defined-benefit plans is the defined-contribution plan known as the 401k. Yes, all us poor schlubs out there who are socking away $50 or $100 per paycheck in order to "play the market" have surely contributed in a major way to the worldwide economic malaise that threatens to suck every last dollar into a giant wormhole.

Looking back, I can see now that it was my unbridled greed that led to the collapse. Why, in May of 2008, my 401k was valued at a mind-boggling $30,411.62. In my imagination, I was already tricking out the 1/100th of a yacht that I could buy with that impressive stash. Then along came the armageddon that was September 2008.  By the first week of December, my 401k was down to $20,530.80, a staggering 32.5% loss. "No more yacht slivers for you, young (I mean middle-aged) lady! What kind of cat food do you like?"

At the time, I only felt bad that I had lost a third of what I had been saving towards my retirement. But that was so selfish of me. Thank you, Mayor Bloomberg, for making me realize that it was my reckless disregard for both law and common decency that led to the collapse of the entire world economy. I am literally drunk with power.

Oh, I've managed to recover some of my losses. Now, I'm about back to where I was more than three years ago, despite continuing to contribute the same amount to my plan in the meantime. At this rate, I'll retire with a net worth approaching .000005% of Mayor Bloomberg's!

But what I'm really wondering is why I haven't received my bailout yet. After all, aren't the greatest rewards of capitalism supposed to go to those who take the greatest risks?

According to Michael Bloomberg, I am one of those people.

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Comments

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This "blaming the victim" mentality of the wealthy against the poor and working class is absurd. It's just duck and cover for scoundrals. If our nation doesn't course correct, we'll be an oppressed third world nation. We can't fight basic economic truth.
We're all at fault. At our house we hide coins in a jar and take it out every 6 months to spend $100 on a night away. Woohoo !

It's time to get back to work. It's 3rd of the month and I need to figure out which creditors to call and ask "Did you get last month's check. It didn't show up on my bank statement. " They answer. Then I say " Weird. Can you make a note that I'll get another one out to you and waive the late fee please?" Make sure I don't call the same ones next month.

This was my evil plan. Repeatedly feel like a dope.
Dang.
Nothing will change until it's taken to the streets. There were no civil rights until a couple of cities burned.

"If voting changed anything they'd make it illegal"

E. G. / R
Rei, that much is true. As Obama said, this is not class warfare. It's math.

aka, how dare you?!?! And yes, your evil plan has made you obscenely wealthy, hasn't it? But you bring up a really important point - having to do that kind of thing certainly makes you feel like crap. I don't know too many people who take pleasure in it, that's for sure.

toritto, I think we are coming to a tipping point. Those kids out there right now have pretty much nothing to lose. But there'll be more and more people in that position. Thanks for the Goldman quote. It is, sadly, more true than ever.

Joseph, thank you. I just found Bloomberg's comment so offensive, I couldn't let it pass without writing something about it.
Yes this idea that the average worker had something to do with the financial/banking collapse is just...bonkers. I can look myself in the mirror and say -- Yes I ate the last brownie and lied about it and I am responsible for my son's dreamy tendencies and for my daughter's histrionics, but I that whole financial thing? Nope. Not the least bit responsible.
Pfft to Bloomberg. What a pompous ass. He is part of the machine that robbed and drained this country, to his direct benefit. Glad to see him at least slightly annoyed. Hope that protest keeps up until it-we can no longer be ignored. If I could afford it I'd be there... too fucking poor to protest
It's comments like that that drive people into the streets.
Your check probably got lost in the mail.
You do sarcasm exceptionally well. With the T party font post, that's two you've hit out of the park in a week. Maybe it's time to start reviewing the herd for your new book.
So apt, so forceful, so eloquent, so devastating. Of all of your posts I've read, this is my favorite. It feels good to be on the same plane as Mayor Bloomberg.
You mean I'm part of the Ruling Class? As to the protesters, let them eat cake. Nice rant. R
Bellweather, that's absolutely right. I take responsibility for things that are actually my fault. But shifting the blame here is offensive and just plain wrong.

tr ig, too poor to protest...I think that's been part of the plan. People who are working two or three jobs to make ends meet don't have the time or the resources to protest.

Myriad, it sure is. How totally clueless and tone deaf can these people be?

scanner, is that what happened? Well, I'll try and track it down then!

greenheron, yes, Jeanette's Big Book of Sarcasm! (Actually, I try not to be so sarcastic all the time. It's like Ringo told George in A Hard Day's Night: "You ought to stop looking so scornful. It's twisting your face." My brain is being twisted.) Thanks for the compliment. I think "Rightwingnuts" was truly inspired. This one is more plain old angry.

Paul, thanks very much! Yes, doesn't it feel great to be Bloomberg's equal? We're all besties now.

Trudge, you are. Please use your newfound powers for good!
Another spot on post! You are awesome! Some of the right wing looney fringe seek to repeal the minimum wage in order "to create" jobs. After all, unskilled and low skilled workers shouldn't have to eat!
Those wanting to give more tax cuts to the wealthy call them the job creators. That is wrong. the public creates jobs by acting on demand for goods and services. Without that part of the equation there are no companies. If the workers don't make a decent living the billionaires can't sell their stuff.
Dicky, thanks for acknowledging my awesomeness! :-)

What you say is to true. There are those who accuse the unions of driving jobs away. So, OK, let's get rid of the unions. Now, is there any American worker who can "compete" with the wages they're paying in China, Pakistan, etc.? Of course not. So that point, even if it was true at first (which it wasn't) is completely moot.
Bloomberg/ ? A bit of a temporary silly expedient for Nyc.
He will fall from , uh, hubris certainly, but maybe
just maybe follow up recent idiotic statements
with truly surrealistic ones,
and then bye bye to the lecture circuit or the White House,
Bloomy, i care not which. you are still transparent
to me, to us...


sorry about financial setbacks. ah well, gets you good and mean.
what we need.
the Wall St. protests are sure necessary
James, you're right. Bloomberg is but a temporary stain on our political landscape. Problem is there's always another one waiting in the wings. (And my financial setbacks are nothing compared to so many others. Believe me, I consider myself so very fortunate.) As always, I appreciate seeing you here.

Kathy, I agree 100%. There is power in numbers and in persistence. I am humbled by these people.
If folks want to participate in an Occupy Wall Street event, check the net to see if there are local events in your area. I know Nashville is having one tomorrow at noon on the Legislative Plaza.
Bloomberg's comment is, as you pointed out, just the latest expression of the "blame the victim" mentality one sees so often in this country. The poor are to blame for being poor, people with 401Ks contributed to the financial meltdown, and so on, but whatever you do, never mind that man behind the curtain...
Bloomberg's massive ego must have deflated his IQ. As John McEnroe liked to say, "You cannot be serious."
RX
Sarcasm and mockery can’t hide the fact that we are all, to some degree, complicit in this system that allows - no, demands - that some few get enormously rich at the expense of most others. If you can’t see that being part of “the system” places some responsibility on your shoulders, then you’ll never see the need to create a better system. If you took all the bankers and bazillionaires out tonight and shot them, which job would you get tomorrow as a result? If you took all the crooked politicians our and shot them as well, which company would hire you right now?

If you won’t consider changing the system, how do you expect things to get any better for your children when it’s their turn at bat? The world they inherit from you is in your hands.

It’s your move.....

.
Billionaire Bloomberg doesn't have the slightest idea about life in the real world, and he has no interest in coming down on his high-toned buddies in order to protect the interest of those $40-50,000 a year workers. Some New Yorker will have to educate me, but I suspect most of the people working on Wall Street for that kind of money are cleaning offices at night.
Nothing will change until the one percent hear a resounding "Off with their heads!" It's coming.
@Tom,
If your suspicions are correct those Wall St. office cleaners must be pretty nearly the highest paid office cleaners in the world!

Ain’t greed capitalism grand?!
Ain’t ‘Merikha grand?!
Ain’t Wall St. grand?!

Power to the office cleaners!!!

.