Obama and Wall Street

A NYTimes article about New York’s Mayor Michael R. Bloomberg supporting candidates of both parties across the country is worthy reading for the insights into two opposing political currents that are facing off right now. And that’s not the two parties — it’s a reconciliatory, bipartisan note versus a radical, partisan idea, incorporated most strongly by the Tea Party movement. And I think it’s outcome (partly to be decided already in the upcoming primaries and elections) will be quite influential for the American political climate of the next decade or so. But apart from recommending that read, what I wanted to share here is a quote from Bloomberg, depicting his (and assumedly many of his wealthy Wall Street friends‘) judgement of Obama’s financial politics:

I feel very strongly we should not be — success should not be frowned on, and I have lots of friends, wealthy people, made a lot of money, were big Obama supporters, gave him money, raised money for him, who are not happy now,” he said.

“They all say the same thing: ‘I knew I was going to have to pay more taxes. Somebody’s got to do it, and I’ve got the money,’ ” he said. “ ‘But I didn’t expect to be vilified.’

Can rich people be taken into responsibility (politically and financially) more without blaming them for their wealth, or should we generally assume that the accumulation of riches in itself is a morally reproachable process?

Datum: Sonntag, 19. September 2010 16:10
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