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Thursday, January 7, 2016

Gail Collins, "Cornering the Anger Market": What About Hillary's Net Worth of $32 Million?

Observing in her latest New York Times op-ed entitled "Cornering the Anger Market" that the campaigns of Donald Trump and Bernie Sanders "are about outrage," Gail Collins concludes:

"It’s not all that stunning that [Trump is] so far ahead in the national polls, given the quality of the Republican competition. But it’s depressing that he’s cornered the anger franchise when his targets exclude America’s own wealthy and powerful."

Gail, is it also not stunning that Hillary is so far ahead in the national polls, given the quality of the Democratic competition?

And is it not depressing for you that Hillary, who certainly falls within "the richest 1 percent," is not being targeted by either Trump or Sanders for her net worth estimated at more than $32 million? Perhaps you would care to write a column about Hillary's sleazy cattle futures trading, by which she turned a $1,000 investment into almost $100,000 after 10 months. 

Moreover, I would refer in passing to Collins's reference in her opinion piece to Glass-Steagall:

"There’s something a little refreshing in a candidate who does all his bragging up front. And let’s acknowledge that the number of typical American voters who want to listen to a call for the return of the Glass-Steagall Act is not as large as the number who want to hear Trump rant against environmental regulations by describing his affinity for hair spray."

Glass-Steagall? Ah yes, that venerable piece of legislation enacted in response to the bank abuses responsible for the Great Depression. And who was responsible for its 1999 repeal, which effectively brought about the financial crisis of 2008? None other than President Bill Clinton, but why dwell on bygones when the financial health of the US (unsustainable debt of almost $19 trillion) is so blithesome.

1 comment:

  1. The (let us make enable bigger banks)sequel to the Clinton repeal of Glass-Steagall was the Obama enactment of Dodd-Frank.

    A new Dodd-Frank rule as of October, 2015 has just confounded the housing market by inserting a delay into everyone's mortgage approval process.

    Perhaps someone will make money off the new "temporary housing while we wait" market.