Noam Chomsky: "Crisis and Hope: Theirs and Ours": One vivid illustration of the difference between the crises of the 1 percent and the 99 percent is the fate of the congressional legislation that was passed to deal with the catastrophic financial crisis that was created by the 1 percent and their associates in the political and professional worlds. The government reaction was reviewed by the special inspector general of the Bush-Obama bailout programs, Neil Barofsky. He pointed out that the legislation that authorized the bailout was two-sided. It was the financial institutions that were responsible for the collapse. They were to be saved by the taxpayer. And the victims of their misdeeds were to be very partially compensated by measures to give some protection to home values and to secure homeownership. Well, only one part of the bargain was kept, and it didn't take a genius to predict which part. The financial institutions were rewarded lavishly for causing the crisis. The TARP bailouts were the least of it.
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