Larry Sommers and the other big shot economists on Obama's team are expressing "foot stomping" rage that the Wall Street institutions that we have given Billions of dollars to have been using a good percentage of that money to pay bonuses to the same financial wizards that got us into this mess.
But they are powerless to do anything about it. They tell us we are a nation of laws. A contract is something that is sacrosanct. It can't be messed with or changed by a third party.
This will come as news to the hundreds of thousands of working people who have seen their pensions, healthcare and wages slashed. Just a matter of weeks ago, the government was threatening the jobs of tens of thousands of people whose jobs depend on the domestic auto industry. Given an ultimatum by the government, the auto workers were forced to accept wage cuts to put them more in line with what non-union workers receive.
What makes a contract between millionaires sacred and those between corporations and millions of workers profane?
Could it be the golden rule? He who has the gold makes the rule?