Robbing the poor to pay the rich, redux

Originally published at The Benfell Blog. Please leave any comments there.

So my cat went out the window to do her morning routine and I decided to take a peek at the Bureau of Labor Statistics (BLS) unemployment numbers. It looks like, despite fears it would rise, their U-3 will have held steady at 9.6 percent. A Gallup poll puts the rate at 10.1 percent and their economist believes that the BLS will have missed a rise in the latter portion of September.

But while unemployment remains high—and politicians of both major factions have refused to do anything of substance about it—it appears the criminals who got us into this mess have been engaged in more criminality, fraudulently pushing through foreclosures without proper paperwork. Judges aren’t going along, politicians seeking reelection are demanding a moratorium, and economists fear all this will prolong the housing crisis and require an additional bailout for the banks.

That’s right, yet another bailout for rich criminals, while poor victims are left to suffer. For some reason, this goes unchallenged amongst “serious people.”