New York's mayor goes to bat for the House that Taxpayers Built

Seattle Times by David Sirota | May. 25, 2009 (Opinion)

Even amid CEO testimony, Bernie Madoff grimaces and Rick Santelli diatribes, nothing better captures the moment's destructive greed than a billionaire politician using the municipal office he bought to defend charging $2,500 a ticket to a new Yankee Stadium he forced the public to finance. If there is a single act showing how kleptocracy and let-them-eat-cake-ism are systemic and local rather than momentary and exclusively federal, Bloomberg turning the ... Full Story »

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3.3
 by Dwight Rousu - May. 25, 2009

Sirota points out that using taxpayer money to subsidize corporations who are putting on sports entertainment for huge profits is another kind of kleptocracy.

And then they appropriate the word "heros" for overpaid sports stars.

In the new Gilded Age, socializing risk and privatizing profit has become the standard — as American as General Motors, Bank of America and, yes, the New York Yankees.

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