American got ENRONed, except we can't send Wall Street to jail

So this rant was spurred by this article on the Huffington Post.

http://www.huffingtonpost.com/joseph-a-palermo/socialism-for-the-rich-na...

There are strong echoes here of Lewis’ previous post on the repeal of the Glass-Steagall Act, although he didn’t finger the Keating Five specifically.

Long story short… The rich got richer and used everyone from a certain point down to fund their dreams of financial domination. Which is further backed up by the fact that the government is now bailing them out with tax payer money (aka, taking our pensions and paying it to the executives, hence the ENRONing of America).

I'm honestly not the most knowledgeable when it comes to the economy, which is why I incessantly ask Lewis about it (the econ major). Not that it stops me from ranting.

I think it heeds mention that the bail outs show a major flaw in some current economic theories. Mainly, that by providing these bail outs the government is admitting no fault, AND placing no fault on the banking/ financial institutions that started this whole mess. This means they are simply blaming the creation of all the bad debt on "the market," which I think shows that the theory that a free market will act rationally and in everyone's best interest is complete bullshit.

If you can't tell I'm starting to get pretty pissed off about this stuff especially since the government is basically accepting communism because it will own the majority of mortgages and homes in this country, as well as accepting socialism for the rich, but nobody else. (Strong economies are built from the bottom up because only shit rolls down from the top!!!!) I understand that allowing all these banks, etc. to go bankrupt will have devastating effects on the economy, but I'm more concerned about what's going to happen with all of this bad debt. So, instead of the banks going bankrupt, it's the country... what happens then? Who bails out the government? It's delaying the inevitable. Some is going to have to go bankrupt here and personally I don't want it to be the federal government. F!!!!!!!

Final thoughts… God bless reddit, it always seems to have exactly what I'm looking for.

http://www.huffingtonpost.com/jim-moore/a-nation-of-village-idiot_b_1273...

The first half of the article is basically how I feel, and the second half becomes a little bit of a rant, but still sorta relevant.

That is all.