From: Issue 37 Categories: ideas

Conrad Black gives the 99% some advice

3 November, 2011

Written by Conrad Black

The Wall Street Occupiers have some legitimate grievances, but are effectively asking redress of the grievances by their authors. The complaints against the Wall Street bailouts, in which they echo the Tea Partiers they affect to despise, are not well-founded. The taxpayers will make money on the bailouts and great misery and confusion has been avoided by them, though Henry Paulson's original Troubled Asset Relief Program, or TARP, of the government buying distressed assets directly was nonsense. There have been design errors in the bailouts, in that so much of the payoff in the automobile industry has been to the egregious, Luddite, avaricious United Auto Workers, which was the greatest single architect of the near-death and out-of-body experiences of the once invincible U.S. auto industry. This bailout complaint by the Occupiers is also inconsistent with the succeeding complaint that organized labour is under siege from the U.S. government, which is in fact grovelling to it, completely undeservedly. (General Motors has 10 UAW pensioner/shareholders for every active autoworker.)

The Occupiers need hardly add their voices to those from time immemorial against the hardy perennials among public grievances, such as age, sex, racial and orientation discrimination. And it is not clear what they are complaining about in respect of an alleged monopoly in farming, sophistical legalities, the sale of privacy of the public (as a "commodity"), "colonialism at home and abroad," and "misinformation through control of the media."

Less challenging to comprehension are complaints about torture and murder of prisoners and unspecified foreigners, and anger that student loans are not outright gifts, about the outsourcing of jobs, the nature and size of political donations, the alleged frustration of the development of alternative energy sources and the covering up of oil spills, and general complaints about Weapons of Mass Destruction.

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