Friday, June 25, 2010

Why the Wall Street-BP Double Standard?

We're living through two of the most catastrophic ecological disasters in history. BP's spill is wrecking the Gulf's ecosystem. It slaughtered 11 workers and destroyed the livelihoods of thousands in the fishing and tourist industries. And soon, we'll start hearing about the terrible toll exposure to oil-related toxics is taking on the bodies of clean-up workers.

Meanwhile, Wall Street, led by financial giants like Goldman Sachs, JP Morgan Chase, Bank of America and A.I.G., polluted our financial system with toxic assets. The wreckage includes $6 trillion in lost economic value and at least 8 million US jobs destroyed in a matter of months. And like the Gulf spill, the Wall Street catastrophe will have deadly long-term consequences, as hundreds of dislocated workers die prematurely from the economic shock.

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Original content Bob DeMarco, All American Investor