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You know things have gotten pretty bad when even the head of the corporate oligarchs at Goldman Sachs starts speaking out against inequality. This is from a story posted by the good people at Think Progress:

“CEO of one of the world’s largest banks: Income inequality is ‘destabilizing’

Lloyd Blankfein, CEO of investment bank Goldman Sachs, called income inequality “very destabilizing” during an appearance on CBS “This Morning” on Thursday.

Arguing that the growing division between the top and bottom of income earners drives political divisions that makes it difficult to legislate and “deal with problems” and therefore “drive growth,” he said, “It’s a very big issue and something that has to be dealt with.”

Blankfein himself can be counted among the 1 percent who have been grabbing most of the country’s income growth, as he is the world’s best paid banker with a $2 million annual salary and tens of millions more in bonuses, adding up to a net worth of $450 million….

Read the rest of the article and watch Blankfein make his comments on CBS by clicking here.

Sometimes, you just can’t make this stuff up.

Reporter Tyler Dukes of WRAL.com has a story this morning about how developers are pushing hard from “reform” legislation that would further decimate North Carolina’s already rapidly disappearing wetlands. As Dukes reports:

“A proposal to roll back environmental rules long loathed by developers would remove protections for critical amphibian nurseries sprinkled across the state, environmental advocates say.

The General Assembly’s 60-page regulatory reform package, approved by the state Senate last week, affects so-called isolated wetlands, tiny plots of land disconnected from other waterways. Environmentalists say the habitats serve a vital function for wildlife and pollution control, especially farther from the coast, where other types of wetlands are more rare.”

But here’s the kicker — check out the response of state Home Builders Association lobbyist Lisa Martin:

There aren’t many isolated wetlands that are worth keeping. This has nothing to do with swampy, marshy, boggy, wetlands most people think of when they think of wetlands.” (Emphasis supplied.)
Gee, thanks, Lisa. We can’t think of anyone we’d trust more to issue the definitive assessment on which wetlands are “worth keeping.”

FF-coalAshNot that there isn’t good reason to doubt just about anything that Duke Energy spokespeople say when it comes to the recent coal ash disaster, but assuming that the claims advanced yesterday that full clean-up could cost $10 billion have any validity at all, here is one very obvious and concise response that those who care about the public interest might want to offer up:

“Yes, and your point?”

Seriously, did anyone think cleaning up the mess would be cheap or fast? We get it, Duke and we’ve gotten it for years. Your giant and massively profitable mega-corporation doesn’t want to spend any shareholder or fat cat executive dough on something as mundane and bothersome as cleaning up your own mess. Isn’t that special?

Well here’s the deal — or, at least what ought to be the deal: Read More

(Image: AFL-CIO / paywatch.org)

Just when you thought things couldn’t get much worse on the American inequality front, you encounter reports like the new “Executive Paywatch” report from the AFL-CIO.

Click here to check out the website — it includes a section in which you can view CEO pay by state. And while the top guys (and they’re almost all guys – 67 out of 69) in North Carolina aren’t as obscenely wealthy as they are in New York or Texas, the gap remains huge; the ratio of CEO pay to that of the average worker in North Carolina is 108 to 1.

 

 

 

David Koch

Conservative plutocrat, David Koch

It’s no secret that America’s economic inequality continues to metastasize at a remarkable pace. Still, when one actually takes a moment to look at and consider the vast holdings of the nation’s richest families (and the avarice often represented therein) it can take your breath away. For some cases in point, check out the following article entitled “A Third of a Trillion for Three Families,” by tax lawyer Bob Lord for the website Inequality.org.

“How concentrated has America’s wealth become? In the not-so-distant future, if current trends continue, a mere handful of Americans will together hold over $1 trillion in wealth. Read More