- Chelsea Green - www.chelseagreen.com -
Les Leopold: Should Wall Street Pay Reparations?
Posted By webeditor On August 5, 2009 @ 3:40 am In Politics & Social Justice, Socially Responsible Business | No Comments
 Les Leopold, harsh critic of the current incarnation of Wall Street and the author of  The Looting of America: How Wall Street’s Game of Fantasy Finance Destroyed Our Jobs, Pensions, and Prosperity—and What We Can Do About It, recently posed the following question to his Huffington Post readers—and I’m paraphrasing: Should those crooks over there on Wall Street pay reparations to the American people for their wanton destruction of the economy?
Here’s an excerpt from the article.  Read the full post here.
Let’s be very, very clear. Those who actively promoted or passively accepted the ideology of deregulation and wealth distribution put the financiers in control of the economy and they’ve made one hell of a mess of it…after making hundreds of billions of dollars along the way. We then bailed them out with trillions of our money and now they are making record profits again, while nearly 25 million are unemployed and underemployed. And millions more are working for crap wages.
If the arc of the universe bends towards justice, we would start with a President’s Wage Cap to tax away all Wall Street salaries above $400,000 a year and add on a windfall profits tax on all financial firms to pay for extended unemployment benefits until the unemployment rate falls below five percent.
Actually “tax” is the wrong word. We’re talking reparations.
Pow! Consider that a “Les Leopold proverbial foot to the chin.”  Read the full article here.
Article printed from Chelsea Green: www.chelseagreen.com
URL to article: http://www.chelseagreen.com/content/les-leopold-should-wall-street-pay-reparations/
URLs in this post:
 Les Leopold: http://www.chelseagreen.com/authors/les_leopold
 The Looting of America: How Wall Street’s Game of Fantasy Finance Destroyed Our Jobs, Pensions, and Prosperity—and What We Can Do About It: http://www.chelseagreen.com/bookstore/item/the_looting_of_america:paperback
 Read the full post here.: http://www.huffingtonpost.com/les-leopold/should-wall-street-pay-re_b_250055.html
 Read the full article here.: http://www.huffingtonpost.com/les-leopold/should-wall-street-pay-re_b_250055.html
 Les Leopold Talks About the Wall Street Banksters That Robbed Us All (AUDIO): http://www.chelseagreen.com/content/les-leopold-talks-about-the-wall-street-banksters-that-robbed-us
 LISTEN: The Financial Crisis Explained: Les Leopold on Equal Time: http://www.chelseagreen.com/content/listen-the-financial-crisis-explained-les-leopold-on-equal-time/
 LISTEN: Les Leopold Explains Wall Street’s House of Cards: http://www.chelseagreen.com/content/listen-les-leopold-explains-wall-streets-house-of-cards/