Monday, December 13, 2010
Michael Bloomberg gives advice to the people...
Billionaire tells Citizens – “Suck it up!”
What is it with these billionaires, lecturing us to “suck it up” if we don’t like the bailouts? A few months ago it was Charlie Munger, co-founder of Berkshire Hathaway and sidekick to the better-known Warren Buffett, who said “we shouldn’t be bitching about a little bailout”, and people facing financial troubles should just “suck it up and cope.” Back in September when Munger was speaking, we didn’t know just how little the bailout was, but now that the Federal Reserve has been forced to divulge details of its six bank emergency financing vehicles, we discover that over $3 trillion in taxpayer money was delivered to US and foreign banks, companies like General Electric, mutual funds like PIMCO, and a few individuals, some of whom happened to be billionaires like Charlie Munger. (Image)
Today on Meet the Press it was the turn of NYC Mayor Michael Bloomberg, who said the following about President Obama’s tax proposal:
‘Look, this is what I did, this is the best I can do. Suck it up,’ Bloomberg said, when asked how Obama should deal with Democrats angered by the tax measure and other compromises with Republicans.
Bloomberg went on to say the Democrats should cease their partisan infighting and begin working on “centrist solutions” for the economy. He suggested Obama needed to broaden his pool of business talent at the White House and should hire hedge fund manager Roger Altman, a former deputy secretary of the Treasury in the Clinton administration.
Which of these ideas is the more insulting I’ll leave up to you, but hasn’t the nation sucked it up enough under the leadership of bipartisan, centrist, triangulating, corporatist Democrats?