This is from the thinkprogress.org website today:
"As several bloggers and television pundits have noted, CNBC has consistently advocated on behalf of the interests of the rich during the recent financial crisis. Indeed, in an interview with Rep. Charlie Rangel (D-NY) today, CNBC host Mark Haines made the curious claim that Americans who earn under $250,000 per year — or 98 percent of the population — can’t run Wall Street companies:
"Let’s get back to what I regard as a fundamental issue here. I know it’s politically unpopular, politically incorrect. I know it goes against all of the populist indignation that’s out there right now. But you can’t really, it seems to me, expect that these Wall Street companies are going to be run well by a bunch of people who don’t make more than $250,000."
Well, that may be one of the most inane, ludicrous things I've ever heard! First of all, what talent or skill does it take to run a Wall Street Company? So-called "financial institutions" don't make anything, not cars or planes, not clothes, not music or art. They don't grow anything, like food or trees or flowers. They don't elevate anyone, like through education. No. The folks on Wall Street move money around, keeping "Ponzi schemes" going with no more talent or intelligence than your average street hustler.
As I've said before, I am all for wealth, and people getting rich for something they are creating or providing that enhances and elevates humanity. But unless what Mark Haines means by his statement is that it takes a certain kind of brilliance to create and provide nothing and get rich doing it, I'd have to say that Mark is just your run-of-the-mill dumb asshole!