Is this “Let them eat cake” mentality accetable?
This was selected as Best Answer Maybe the Wall street bankers will buy Hummers and SUVs with their bonuses. Then they can increase auto sales and in consuming outrageous amounts of fuel get the price of oil back up to increase the profits of the oil companies. Then the oil companies could pay some corporate taxes to give to the car companies. Then the hedge funds can lever up long oil/auto/banks and short the alternative energy business and get everyone buying at the top of that market, close out outrageous profits and then reverse it. Then they can take their profits fleecing the skin off the Joe the Plumber (your average investor) and move it to an offshore company. The problem with the let them eat cake mentality is that when you are on the top of your game, it works. When you should be eating humble pie, it makes you look like a J@ckass. The problem with the auto industry has been their consumate arrogance. At one point they were the leaders of industry. They told people what they
