Political Revolution

Hypocrites! Corporate Leaders Bemoan the Default Crisis Created by Tea Partiers They Funded

As for Cruz, guess who paid for his campaign? Very close to the top of the list of donors for the despised Texan is none other than Goldman Sachs — whose chairman Lloyd Blankfein showed up at the White House a few days ago to bemoan the catastrophic threat of default. Not only did Blankfein and his fellow bankers warn of what might happen if America breaches its full faith and credit, but he even hinted that the fault lies with Republican hostage takers. Which is only partially right, because Blankfein and his fellow financiers need to look in the mirror, too. Cruz also got a big check from Berkshire Hathaway, corporate home of the venerated Wall Street sage Warren Buffett, who just compared the impact of default to “a nuclear bomb.” If that nuke wipes out the markets, Berkshire’s investment in Cruz will have lit the fuse.

Alternet.org

About the author

JoAnn Chateau

JoAnn Chateau likes progressive politics and loves the canines. She sometimes writes fiction about Chester (the Alpha Bichon) and his friends -- with a dash of humor and dab of Poli-Sci. JoAnn's views and insights are tinted by her past profession in Counseling, Christian theological studies, and Library and Information Science training. Retired now, JoAnn enjoys the creative life.