Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
"If confirmed, these and other super wealthy people-many without government experience or a working understanding of the departments they may oversee-will hold considerable sway over public policy. In return, they, either individually or through their business interests, could potentially benefit from policies and regulations they oversee."
“Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms and a fair shot for everyone to get ahead,” Biden said.
"This shift raises a question: 'Do they know something that the rest of us don’t know, which is that maybe the rule of law is weaker than we all think and that proximity to the Trump administration is the best way to protect one’s wealth?' Krcmaric said. 'That would be U.S. billionaires behaving in the same way that billionaires in autocracies typically behave…we can’t make strong conclusions yet, but I would say, if you look at some cases, there seems to be an element of that going on.'”
“It’s certainly reasonable for the American public to question the appointment of someone who is heavily invested in one part of the energy sector, being appointed to a role where they are meant to oversee the entirety of the energy sector,” Sherman says, speaking of Wright. It’s as “if your kid’s school cafeteria is run by somebody who owns a candy shop.”
There’s also the broader, and again, nonlegal question, of how a government of superwealthy individuals serves a public that isn’t nearly that rich. “It’s a lot of billionaires coming in to solve the problems of the working people,” Painter said. “We’ll see how that works out.”
Rule of Law and ethical behavior requires those involved being able to look past self-interest. That's just gone. Joe was singing Bernie's song. Correct. But way too late. Recall the campaign lead-up to the 2020 election? Bernie was in a pretty good spot in the primaries. Until J. Clyburn clobbered him with his endorsement of Joe. Is uncle Jim responsible for a 2nd Orange term???
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https://www.mutualfundobserver.com/discuss/discussion/63188/of-for-and-by-the-billionaires#latest
There’s also the broader, and again, nonlegal question, of how a government of superwealthy individuals serves a public that isn’t nearly that rich. “It’s a lot of billionaires coming in to solve the problems of the working people,” Painter said. “We’ll see how that works out.”