The Super "Connected" 1% CEO: The Incredible Tale of Billions of Dollars of Failure
Continued from previous page
Naturally, Dick Parsons hired him to protect Citigroup—and it worked. Talk of breaking up “Too Big To Fail” Citigroup is pretty much over now. The perpetrators are safe. The shareholders are angry, as are Citi’s victims of fraud in the years since Parsons joined, as are the rest of us who didn’t profit from the plunder of Citigroup, and the plunder of the treasury to keep Citi going.
Today, Parsons is gone from Citigroup, but he’s not gone from our lives: He’s just been appointed as Gov. Andrew Cuomo’s “education czar” for education reform in the state of New York. Sorry kids.
All of this begs the question: What makes whacky conspiracy theorists any worse or any more deluded than the “Meritocracy Theorists” who’ve been promoting a fairy-tale version of America since Reagan’s Revolution, a fairy-tale version in which talent, hard work and innovation are supposedly rewarded, and failure is punished? It’s time to admit it once and for all: Failure is the whole point. Failure makes looting easier and quicker. In that sense, Dick Parsons has been rewarded for a job well done.
The game is rigged, and Dick Parsons’ rancid story gives some insight into how the rigging operates, and why failure is so valuable. What looks like failure to us, like losing our jobs and our future and our democracy—is success and riches to the One Percent who profit from this dystopian setup.