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Paul Krugman | All the GOP's Gekkos

Mon, 01/16/2012 - 20:32 — Dave Culver
Section(s): 
Arts & Culture
Economics

Almost a quarter of a century has passed since the release of the movie 'Wall Street,' and the film seems more relevant than ever. The self-righteous screeds of financial tycoons denouncing President Obama all read like variations on Gordon Gekko's famous 'greed is good' speech, while the complaints of Occupy Wall Street sound just like what Gekko declares at one point in private: "I create nothing. I own." At another, he asks his protege, "Now you're not naive enough to think we're living in a democracy, are you, buddy?"
How the GOP Tries to Transform America into a Selfish, Souless Place

Paul Krugman, New York (NY) Times

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Almost a quarter of a century has passed since the release of the movie “Wall Street,” and the film seems more relevant than ever. The self-righteous screeds of financial tycoons denouncing President Obama all read like variations on Gordon Gekko’s famous “greed is good” speech, while the complaints of Occupy Wall Street sound just like what Gekko declares at one point in private: "I create nothing. I own." At another, he asks his protege, “Now you’re not naïve enough to think we’re living in a democracy, are you, buddy?”

Yet, with the benefit of hindsight, we can see that the movie went a little off at the end. It closes with Gekko getting his comeuppance, and justice served thanks to the diligence of the Securities and Exchange Commission. In reality, the financial industry just kept getting more and more powerful, and the regulators were neutered.

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Related:

How the GOP Tries to Transform America into a Selfish, Souless Place, Leo Gerard, AlterNet

  • In the spirit of their self-centered mentor Ayn Rand, Republicans are trying to disfigure America so she resembles Pottersville, the 'bankers town' in "It's a Wonderful Life."
  • A Republican Insider Looks at the Rise of the Religious Right
     

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