HIGHTOWER: Protecting Wall Streeters From Us

Time for another peek into "The Lifestyles of the Rich ... and Cranky."Speculators and stock brokers on Wall Street had a very good year in 1997, with the top dogs at Goldman Sachs and other brokerage firms raking-in more than $25 million dollars each in bonus money. Things are so good for them that New York's poshest restaurants report that some of these high-rollers have been ordering bottles of wine for lunch that cost $10,000 a pop!Now, if you can toss-off 10 grand for a bottle of old grape juice, you must not have any reason to be cranky, right? Wrong! These rich guys are now insecure about their security. They've begun to realize that their lavish lifestyles come at the expense of America's workaday majority -- when workers get downsized, Wall Street's fees and stock prices skyrocket ... and the rich get fabulously richer. So, to guard themselves against the downsized masses, the Street's elites have been spending more of their ill-gotten gain on things like bodyguards, bulletproof limousines, kidnaping insurance and home security systems.Fine. But now, they want the public to help pay for their security. They've persuaded New York Mayor Rudy Guiliani to open a special police substation in their Wall Street district, with 200 officers assigned to them!Even though a group of influential Wall Street companies will finance a part of the new station's cost, the rest will come from ordinary taxpayers. But a bigger principal than tax money is raised here -- why should police protection be auctioned off to the highest bidder? After all, Wall Street is one of the safest areas in The Big Apple, and plenty of neighborhoods that are more dangerous, but less affluent, sure would like to have 200 cops allocated to their streets.This is Jim Hightower saying ... Hey Wall Streeters -- be careful ... you're not the only ones getting cranky.Source: "Wall St. Plans to Pay for a New Police Substation There" by David Kocieniewski. New York Times: Feb. 17, 1998.

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal

Don't Sit on the Sidelines of History. Join Alternet All Access and Go Ad-Free. Support Honest Journalism.