As the Fat Cats sat around their banquet tables, with their cigars and 30 year old cognac, eating foie gras and caviar, while the rest of us ate turkey (if lucky), they were giving their thanks for their prudent investments in the politicians who supported the trillions of dollars that bailed out the economy, so that they could earn $1.66 trillion in profits this past quarter. Over their Kopi Luwak coffee they shed a few crocodile tears for the have-nots, and exchanged a few chuckles at the suckers who bought their promise of more jobs in exchange for tax breaks and subsidies.
So how has the Great Recession affected the rich? Annual bonuses rose by 11% for bosses at the 450 largest US corporations last year, according to the Wall Street Journal. Shareholder returns increased by 29%. Forbes magazine says that 400 richest Americans increased their net wealth by 8% in 2010, to $1.37 trillion.
How has the Great Recession affected the rest of us? Many more are now going hungry, living without healthcare and
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