What will the neighbors say? TPMCafe has a great blog about Will calling out the corporate welfare to Wall Street, going far to the left of mainstream Democrats. Of course, it also raises serious questions about the Democrats and how they managed to keep quiet and do nothing while this has unfolded. How in the world did they let this happen and why?
While most Democrats seem to have no objection to these huge welfare grants to the incredibly rich, Georg Will does.
Will argues that as a condition of accepting Fed bailouts, the banks' executives should agree to restrict their pay to $124,010, the maximum for federal civil servants. This seems eminently fair. After all, no one is forcing the banks to accept money from the Fed. If they think they can do better without it, then they don't have to take it.
It is remarkable that only a right-winger like Will seems upset about the Fed giving taxpayers' money to the very richest people in the country with no strings attached.
