Debt & Double Standards

As two million more Americans get their benefits yanked in the name of deficit reduction, the news of just how much money the feds loaned the banks as the financial crisis hit seems a tad schizophrenic by comparison. According to newly revealed data, those same people who are now advising the government to nickle and dime old folks, the unemployed and government employees happily payed out $9 trillion in "overnight loans to major banks and Wall Street firms" to keep them afloat in September 2008.

So the message is clear: The government's got Wall Street's back. But regular people who drag ass out of bed and go to work every day? You're on your own. If the banks were too big to fail, the American middle class must be too small to succeed.