The Wrong Side of History

Herman Cain reiterated his position today that we should not blame Wall Street or the big banks for thrashing the economy and that the poor should blame themselves for not being rich.

According to the Associated Press, Cain called the Occupy Wall Street protesters “un-American” and even went there with the “job creators” meme.

Republican presidential candidate Herman Cain says the Occupy Wall Street protesters are un-American and against capitalism. Speaking to The Associated Press during a book signing event Wednesday in St. Petersburg, Fla., Cain said the protesters shouldn’t rally against Wall Street bankers or brokers because “they’re the ones who create the jobs.”

I’d really like to see an example of stock brokers creating jobs aside from secretaries who fetch their coffee and Prozac. Those employed by the personal escort industry do not count either.

Short-selling company stocks and engaging in commodity speculation certainly doesn’t create jobs. It might kill a few though.

Meanwhile, both President Obama and Vice President Biden have expressed sympathy for and an understanding of why the protests are happening. Something that no Republican presidential candidate has so far managed to do.

Someone is on the wrong side of history here, and it isn’t this administration.

via ThinkProgress

Adding… On the subject of creating jobs, Citigroup and Bank of America have together presided over 138,056 layoffs since 2004.

Print Friendly
This entry was posted in Economy and tagged , , , , , . Bookmark the permalink.
  • trgahan

    If any of this “job creator” meme is true, then just please o’ gods of wealth, tell us just how low your taxes and lax the regulations have to be to return our country to sub 5% unemployement. Your rich because your the smartest, most hard working of us, right? You should be able to answer this question.

    Your already sitting on the biggest profit margins in the history of capitalism and haven’t passed the savings on to us, either in lower prices or pay raises. So clearly there are some aspects of “free market capitalism” that I’m wrong about.

    • http://www.facebook.com/people/Rick-Janes/607039439 Rick Janes

      trgahan, read Michael Lewis (“Liar’s Poker”; “The Big Short”) on how these characters end up earning big money on Wall Street. It’s usually just a matter of dumb luck or school connections. Although fictional, the film “Boiler Room” with Giovanni Ribisi also revealed how many of the pump-and-dump ‘stock mills’ worked in the ’80s and ’90s selling junk bonds and fly-paper to naive investors with more money than brains. It’s all what led to the mess we’re in now. Deregulation, lax oversight by the SEC, and the predatory natures of the greedy sociopaths at the top all resulted in disaster. BTW, in the same opened vein, here’s an interesting piece:

      Study: Wealthy Stockbrokers More Dangerous Than Psychopaths
      http://www.alternet.org/story/152639/study%3A_wealthy_stockbrokers_more_dangerous_than_psychopaths?akid=7675.173990.gYk-S9&rd=1&t=8

  • Scopedog

    “Someone is on the wrong side of history here, and it isn’t this administration.”

    Amen to that.

    And somewhere out there, Glenn Greenwald’s head just exploded.

  • http://twitter.com/gbeaudette Grant Beaudette

    And yet if I pushed one of these job creators to give me a job, I bet I’d be called a lazy socialist looking for a handout.

  • http://www.politicalruminations.com/ nicole

    Ohoh…..there the Pres goes proving Jane Hamsher’s latest meme.

    Adding………

    Someone is on the wrong side of history here, and it isn’t this administration.

    Exactly.

    • mrbrink

      President Obama’s been a champion of movement democracy all along.

      She should look it up. It should be somewhere under “ComMuNiTy OrGaniZer!”

      Where’s Hamsher been? building a movement against this President and Democratic party majorities in the House and Senate.

      “Make me do it” wasn’t about bitching and moaning at the highest ranking government official on the planet whose given a shit about any anti-Wallstreet protests in decades. She still doesn’t get it and none of her followers seem to either.

      I love it, though. This uprising should have forced Hamsher to acknowledge she’s wasted three years barking up the wrong tree. Nope. She’s already pivoting back to the president, dragging the focus away from the actual culprits in this whole mess– Wallstreet hustlers and wealth sucking fascists who began robbing us blind long before Barack Obama was even born.

      But Hamsher’s determined to hunker down in some “both sides” mental bunker where no one gets in without her nod of approval– “not even the President!”

      She’s so cool, she actually made it “uncool” to support the only president she’s ever known who actually gives a damn about those people in the streets, signed laws to protect them, consistently making the case at the highest level of democracy.

      I wish I was that cool to able pretend I was cooler than Obama.

    • http://drangedinaz.wordpress.com/ IrishGrrrl

      Wow, so the President ackn0wledges the protest (and to be quite frank I didn’t think his statement was supportive enough but he’s running for re-election and he has to walk a fine line). HOWEVER the fact that Hamsher has to go to the extreme of accusing him of co-0pting it is border-line nuts. She just can’t give him any credit whatsoever!

  • bphoon

    If lower taxes on the “job creators” are the key to job creation, then my question is this: “After 10+ years of lowered tax rates, where are all the fucking jobs?”

    • http://www.facebook.com/people/Rick-Janes/607039439 Rick Janes

      In some years, neither GE nor Exxon Mobil, et al, paid any federal income taxes at all, yet they laid off thousands of workers. I don’t know why the Dems don’t confront the GOP with that fact when they blubber about lower taxes creating jobs.

  • burbank_burt

    I only caught the end of the President’s speech and some of the Q&A…. What I did hear was absolutely fantastic…. More like that please Mr. President. As matter of fact: More of it as well as more OFTEN…. as in at least twice a week until the election.

    • http://drangedinaz.wordpress.com/ IrishGrrrl

      I may have missed a lot of what he said….there I go again relying on the MSM to actually report what he actually said instead of useless too short snippets…..(this is in regards to my earlier post where I said I didn’t think he was supportive enough)

  • http://twitter.com/SugaRazor Razor

    “On the subject of creating jobs, Citigroup and Bank of America have together presided over 138,056 layoffs since 2004.”

    Doesn’t matter, Republicans will still just insist that the banks’ “hands were tied” by regulation, taxes and liberal policies and it’ll stick since the media doesn’t actually call people out on their bullshit.

  • dildenusa

    Herman Cain wouldn’t know the difference between shit and a hill of beans even if you told him shit stinks. Because obviously he thinks his shit doesn’t stink. It’s a good thing he has poor competent employees making his pizza.

    • bphoon

      The employees may be competent but his pizza still sucks…

    • http://www.facebook.com/people/Rick-Janes/607039439 Rick Janes

      C’mon, dildenusa, Cain would put the shit on his pizza. A steaming pile of shit is much cheaper than a hill of beans, I hear.

  • ifolkinrock

    Herman needs to read some Adam Smith. Voters vote for liberals, liberals put restrictions on runaway laizess faire capitalism, shit works better.