About Wall Street operators raking in profits in the midst of a financial breakdown...

Isn't it strange that the very groups that set the financial crisis into motion are now reaping profits as if 2010 were one of the best boom years ever? You don't have to be a journalist to ask that question. Lot's of people all over the world no doubt find it significant that Wall Street operators--who not long ago were knocking on doors in Washington--are now gleaming at what appears to be a banner year. While unemployment in the United States and in most of the "developed" world remains at two digit figures.

The Wall Street Journal recently reported that leading firms paid out $140 billion in compensation and benefits, the highest number in history. That represented an increase from $123 billion earned by financial entities in 2008 and $137 billion in 2007. So it would appear that a the financial crash has in the end brought a feast in profit taking.

It does not take a detailed investigation to discover why Wall Street should be doing so well when the rest of the U.S., and much of the world, is mired in a deep recession. The government in Washington was very generous indeed with the companies which said they were in trouble. Government bailed them out with billions of dollars, activating printing presses and skyrocketing public debt. The corporations are now smiling and back to their profit gauging, business as usual. In fact, it is even easier to make a fast buck these days. Interest rates are so low that even an incompetent banker should be able to haul in a dazzling profit. 

Some say there was no other alternative. In fact, even rightwing ex president George Bush had begun to fork over money to the corporations and prop up banks whimpering and begging for help. The conclusion in any event is clear. The government in Washington clearly decided to save the (capitalist) system. If it had not pumped billions into the economy, Wall Street would probably be still gasping for breath.

Who will end up footing the bill? Obviously, not the corporations.

Perhaps this is naive, but what if those billions had been invested in education, health, science and infra structure projects? What if corrupt and inefficient financial financial operators had to face the reality they themselves created?