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Plutocratic injustice is unveiled in bailouts

Posted: Thursday, March 19, 2009

The pursuit of a burgeoning plutocracy, covertly moored within a corrupted democracy kindled by the supply-side scam of Reaganomics, has nowhere been made more evident than with the taxpayer bailouts that enable contracted bonuses for failed executives: AIG, Bank of America, General Motors, and others.

I have close friends whose savings and pensions were vaporized when employers file for bankruptcy. The plutocratic injustice is unveiled when top management, while sustaining their affluent lifestyles, reorganizes management then reopens without any obligation to their prior, now pauperized, employees.

If power corrupts and unchecked power corrupts absolutely, where is democratic capitalism's economy in monopolized industry? It's time we get some of the trust back in business "trust" through a liberally educated electorate, not one sharp for the game, that can keep tabs on those who think they're "unchecked." Remind them we all are planted on Earth.

John S. Sonin

Juneau



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