Sunday, 20 November 2011

In Case Anyone Forgets Why "Occupy Wall Street" Exists

1. Our Congress -- ahem, the best Congress money can buy -- decided that pizza is a vegetable. This decision makes absolutely zero sense from a health and nutritional standpoint (I love pizza -- I had three slices yesterday -- but if what I ate qualifies as a vegetable, I'm a living, breathing zucchini). However, it makes perfect sense from a food industry lobbying standpoint.

2. AIG won't help struggling homeowners. From Bloomberg: "American International Group Inc. (AIG) is holding out as rival mortgage insurers accept policy changes that support the U.S. government push to stoke refinancing among borrowers with little or no home equity."

Reminder: Not only did the U.S. bail out AIG, the U.S. is currently the MAJORITY OWNER OF AIG. If the U.S. government is too weak-spined to compel AIG to get on board with refis (which almost everyone agrees need to take place to right the listing housing market), then it's clear who's really running the show.

3. Corporations are increasingly paying a smaller percentage of their profits as income tax. At the same time, childhood poverty has been on the rise. Those trends aren't likely to change anytime soon as corporations are the kind of "people" who can write big campaign checks, but a child in poverty isn't similarly flush with excess funds to fertilize Senator Gasbag's re-election efforts.