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Wall Street Bonuses Ripe for Tea Party Rage

Big finance could face populist pitchforks

By Jane Yager,  Newser Staff

Posted Jan 12, 2010 6:04 AM CST
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(Newser) – Bailed-out Wall Street execs handing themselves hefty bonuses this month should prepare for outrage not only from Dems inside the Beltway but from tea partiers, who hold their first convention in Nashville next month. The rage that has been focused on big government and health care reform could easily swing toward Wall Street, Gerald Seib writes in the Wall Street Journal.



The tea party movement is rooted in "mistrust of big institutions in general," Seib writes.
"It's a short leap from anger at Washington's spending of taxpayer dollars to anger at Wall Street executives saved by those same taxpayer dollars." Both left and right have already shown signs of revolt against financial institutions. Arianna Huffington is urging people to yank their money out of big banks, while a GOP rep is alleging there was a plot to withhold the fact that bailout money paid to AIG went directly to several banks that were AIG debt holders.

FILE - In this Sept. 25, 2008 file photo, Dara Blumenthal, of Brooklyn, holds up a sign during a rally against Wall Street bailout in front of the New York Stock Exchange in New York.
FILE - In this Sept. 25, 2008 file photo, Dara Blumenthal, of Brooklyn, holds up a sign during a rally against Wall Street bailout in front of the New York Stock Exchange in New York.   (AP Photo/Mary Altaffer, file)
Protesters fly an American flag with corporate logos instead of stars during a rally against government bailouts for corporations on Broadway near Wall Street Friday, April 3, 2009 in New York.
Protesters fly an American flag with corporate logos instead of stars during a rally against government bailouts for corporations on Broadway near Wall Street Friday, April 3, 2009 in New York.   (AP Photo/Jason DeCrow)
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COMMENTS
Showing 3 of 12 comments
stanooch
Jan 18, 2010 5:37 AM CST
Please do it! Isn't it about time the shouting is directed toward the rapacious pirates on Wall Street instead of about something to help the little guy--like health care?
Derni
Jan 12, 2010 12:57 PM CST
And rightly so-you don't give money out and not monitor it or tie or have consequences for its misuse-the Gov't did that-all of them Congress Presiudent etc-democrat-republican-all are responsible
CHRiSTFELD
Jan 12, 2010 12:51 PM CST
"UP YOU" sounds kinda ignorant... I'm just sayin'.

 
Wall Street • AIG • bonuses • Arianna Huffington • Nashville • populism • populist • bailout • Wall Street bailout • TARP • executive bonuses • Tea Party • National Tea Party Convention • populist anger • AIG bonuses

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