Nickolai wrote:
Hedge fund Manager John Paulson made five billion dollars in 2009 betting that the wall street engineered housing bubble was going to burst, by working with Goldman Sachs to create mortgage backed collateralized backed debt obligations packed with liar loans that were destined to fail, selling them to investors around the world as being safe as government Treasuries then buying Credit Default Swaps from AIG that would pay off if and when the securities failed and they failed. AIG didn't have the money to pay the winners so the Government bailed them out to the tune of $185 billion. Paulson made five billion, Goldman Sachs made 12 billion. It was all taxed at cap gains of 15 % in an Egalitarian society these crooks would pay at least 50 % of five billion and a lot of Americans who need health insurance but need food stamps could have it. In the 1930's 40's 50's 60's and 70's we taxed all income over say three million at 91 % and created the largest middle class in history and paid down the national debt from 120% of GDP in 1945 to 32% of GDP in 1979 then Reagan was elected and its been trickle down Republican economics ever since
Hedge fund Manager John Paulson made five billion... (
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Public t***sportation in Egalitarian society.