I’ll admit I can be a pessimist. If I smell flowers I generally look around for the casket. I really bend over backwards when I find something that gives me optimism. Mrs. Elecpencil and I ventured out and saw a movie that gave me optimism. The movie is called, “The Big Short.” It is about the housing bust and economic drop we had in 2008. Sadly, the taxpayers picked up the tab for Wall Street and the banks greedy failed dealings. The optimism I received from the movie was the way the story was told. It was told in a way to make us common folk understand the corruption that went on. At the heart of the movie is the way greed comes before morals in a capitalist system. In the end only one crooked banker was made an example of and went to jail.
I was thinking anyone who saw the movie would realize we have a war between Wall Street and Main Street. I was sure if the public saw the movie it would influence their voting in the upcoming election. The movies viewers would certainly avoid candidates beholding to Wall Street for campaign money or candidates that are part of the wealthy 1%. The same movie viewers would also call for campaign finance reform. I was sure that if people saw this movie we could elect politicians that put people before profits. As I exited I was feeling very optimist about elections as I was positive anyone seeing this film would reject Wall Street owned wealthy candidates.
My optimism ended within a dozen feet of leaving the theater. Two men in their 70’s were in front of me talking about the movie. The shorter one said, “That Wall Street greedy rip-off will end when Trump is elected president.” He continued, “He is a successful business man who has never failed and knows how to get things done.” The other man said, “Yes, but I’m afraid Trump won’t be elected.”
Only in America can a billionaire like Trump run as a populist. I wanted to ask these seniors, “Did you know that Donald Trump has gone bankrupt on four separate occasions?” He loves to tell his followers he is a successful business man and a winner. If questioned about the bankruptcies Trump claims the bankruptcies are for his companies and has nothing to do with him personally. The documents show he is personally involved because he’s listed as an owner on the casino licenses. Due to Trump’s bankruptcies, bondholders and banks have lost millions. Other people hurt by Trump’s filing bankruptcy were casino and hotel workers who took concessions.
“The banks could have simply taken everything he had right then, but they wanted his cooperation,” said Lynn LoPucki, a bankruptcy expert and professor at UCLA Law School. “There’s that old saying, “If you owe your banks a little, you’re at their mercy. If you owe the banks a lot, the banks are at your mercy. They saw the best way for him to repay the money was to keep the Donald afloat.” LoPucki also said, “People knew who Donald Trump was and for that reason were willing to trust the bonds, and they got burned. The people who invested with him or based on his name lost money, but he himself came out pretty well.”
“Here’s a guy who’s failed so miserably so many times and it’s not as though he had to claw his way back after seven years in credit hell. He just said. ‘OK, this isn’t my problem anymore. For him, it’s just been a platform to the next money-making scheme,” said Doug Heller, the executive director of Consumer Watchdog. The kind of bankruptcy Trump does is considered, “restructuring debt.” We regular Americans are devastated if we have to file bankruptcy for medical bills, divorce or job loss. The wealthy like Trump who owe millions can easily cut their losses and file bankruptcy after bankruptcy. That is because when you owe banks that much money they consider you too big to fail. Trump said this about his bankruptcies, “We’re … using the laws to our advantage. That shouldn’t be embarrassing. That should be smart.” I’ll bet my two senior fellow moviegoers are conservatives that hate on people on welfare and consider them deadbeats. Yet, they’d vote for a guy like Trump who thinks he has the right to stiff anyone out of money, as long as he comes out on top.
If you go back to 1991 you’ll find Trump’s dad bailed him out by purchasing more than $3 million in chips from the Donald Trump Castle Casino. Fred Trump did that because Donald was short on his payment due bondholders. I’d ask the two senior men do you really want to turn the economy over to a wealthy guy whose daddy has to bail him out. I want that better future for my kids. I am optimistic because I see a presidential candidate in the mix who isn’t beholding to Wall Street. He also isn’t a member of the 1%. I’m not talking about Donald Trump or any of the other presidential candidates that take money from Wall Street. The candidate I’m voting for has an average campaign donation of $27. I was feeling generous so I sent him $30 and will send more soon. I’m poor and have never sent money to a candidate before. I’m sure you know which candidate I’m talking about and he is someone who makes me feel optimistic. I like that feeling and I’m going to try it on and see how it feels.
Ani DiFarnco: “Angry Anymore”
“Capitalism without bankruptcy is like Christianity without Hell”~ Frank Borman