by Yves Smith
Wall Street billionaires are freaking out about the chance that Bernie Sanders could be elected President. Stephen Schwarzman, one of the wealthiest and most odious people in the world, told the Wall Street Journal that one of the three principal causes of the recent global financial trauma was “the market’s” fear that Sanders may be elected President. Schwarzman is infamous for ranting that President Obama’s proposals to end the “carried interest” tax scam that allows private equity billionaires like Schwarzman to pay lower income tax rates than their secretaries was “like when Hitler invaded Poland.”
Schwarzman and Pete Peterson co-founded the private equity firm Blackstone. Peterson leads the effort to destroy the safety net in America. His greatest dream is to privatize Social Security so that Wall Street could increase its revenues by tens of billions of dollars. Blackstone is a major owner of Sea World, and it was in this sphere that Schwarzman went beyond his delusional rants about Hitler and became vile. When an Orca killed its trainer, Schwarzman lied and blamed the death on the trainer, claiming that Sea World “had one safety lapse — interestingly, with a situation where the person involved violated all the safety rules that we had.”
Schwarzman’s claim that the global financial markets are tanking because of Bernie’s increasing support is delusional, but it is revealing that he used the most recent market nightmare as an excuse to attack Bernie. The Wall Street plutocrats, with good reason, fear Bernie – not Hillary. Indeed, it is remarkable how vigorous and open Wall Street has been in signaling through the financial media that it has no problem with Hillary’s Wall Street plan. CNN, CNBC, and the Fiscal Times, under titles such as: “Here’s Why Wall Street Has Little to Fear from Hillary Clinton,” pushed this meme.
Read the full article here: