Welcome to the brave new world of post-bailout capitalism. The Commerce Department announced Tuesday that corporate profits are at their highest level in U.S. history, and the Fed released minutes of an early November meeting in which officials predicted a stagnant economy and continued high unemployment.
The lead on the New York Times story read like a line from a Dickens novel: “The nation’s workers may be struggling, but American companies just had their best quarter ever.”
Meanwhile these same companies complain about being treated so very rudely by the Obama Administration. As the Nation's Chris Hayes challenges his twitter followers:
The financial services industry, which largely created the 2008 financial crisis from which we have yet to climb out, is now making record profits and lecturing our government and "We, the People" when we do not curtsy with enough enthusiasm.
I wonder when we will have had enough.