Posted by Shyam Moondra
The rich people, who benefited the most under the Bush tax policies, are the biggest losers in the current economic crisis. Most of these people have lost almost half of their wealth and still counting.
The CEOs, who abused the system with the help of corrupt Board of Directors and enriched themselves beyond belief, are now seeing their stock options melt away right under their noses. When the market cap of a company like Citigroup crashes from $200 billions to just $20 billions in less than a year, it can only be a curse. Who could have even imagined just a year ago that Bear Stearns and Lehman Brothers would be no more or GM and Ford, icons of American ingenuity, would burn to ashes?
The powerful hedge funds, intoxicated with their successes achieved mainly by manipulating stocks and making money at the expense of small investors, are now on their knees. Over 700 of them have already gone bankrupt and many more are on their way to demise for good.
Bush ordered the invasion of Iraq, against the wishes of most of the people around the world, simply because he felt that he could. As the leader of the world's only superpower, Bush felt invincible and somewhat intoxicated with power. After sacrificing the lives of thousands of people, American and Iraqi, and wasting over $700 billions, he finally had to concede that the mission was not accomplished after all.
Given a massive destruction of the wealth of rich and powerful, who gained unfairly in recent years, one has to wonder if there is a supreme power behind all this.
Amidst the ruins lies a beacon of hope, President-elect Obama, who correctly envisioned a change in direction that would favor the middle-class, the people who were left behind. The fact that Obama, a black man, won the election against all odds can only be God's doing. It seems like God is finally on the side of the good people.
