A Hedge Fund Republic?
Earlier this month, I offended a number of readers with a column suggesting that if you want to see rapacious income inequality, you no longer need to visit a banana republic. You can just look around. . . . after reviewing the evidence I regretfully confess that they have a point.
That’s right: I may have wronged the banana republics.
And it goes on to look at the proposed tax cuts for wealthy Americans. And he continues:
"But there is also a larger question: What kind of a country do we aspire to be? Would we really want to be the kind of plutocracy where the richest 1 percent possesses more net worth than the bottom 90 percent?
Oops! That’s already us."
Nothing very new here, but it's a short, well written article that is a useful reminder of what has been happening.