What the tea party is

The Daily Star


Home About Us Advertise Archives Forum Classifieds ePaper Live TV Contact us


Search



Daily Star Sections
Middle East

Lebanon

Middle East News
Politics

Business

Editorial

Opinion

Readers' Letters





Reader's feedback published on 13/11/2010
The Daily Star is pleased to provide a forum for debate on a range of subjects, from local cultural activities to international politics.
Dozens, sometimes even hundreds, of letters fall into the editor’s mailbox daily. In order to keep the letters timely, The Daily Star generally produces a special letters section. When the influx of letters is particularly large, extra space is made available accordingly.
If you would like to submit a letter for publication, please remember to include your full name (first and last) and address, including city. The Daily Star typically only publishes letters under 400 words, and these are subject to editing. The Daily Star will not acknowledge unsolicited submissions.




Read more: http://www.dailystar.com.lb/letters.asp?edition_id=10#ixzz15C2sL26r
(The Daily Star :: Lebanon News :: http://www.dailystar.com.lb)


Editorial
“US peace-talk slack will fuel extremism”
November 2, 2010

Well, I think it’s important to look at who the tea party is, what the tea party is. I mean, let’s remember, it’s many different organizations. They wouldn’t be there if it hadn’t been for an enormous amount of money from a few … well, Simon Johnson calls them the “13 bankers.” 13 bankers is the rise of concentrated financial power and the threat it poses to our economic well-being. Over the past three decades, a handful of banks became spectacularly large and profitable and used their power and prestige to reshape the political landscape.
More remarkable the responses of both the Bush and Obama administrations to the crisis, namely bailing out the megabanks on generous terms, without securing any meaningful reform, demonstrate the lasting political power of Wall Street. The largest banks have become more powerful and more emphatically too big to fail with no incentive to change their behavior in the future. This only sets the stage for another financial crisis, another government bailout, and another increase in our national debt economic well-being. The Wall Street world to which Barack Obama said, “I’m the only thing that stands between you and the pitchforks,” turned around, and for all the compromising that Obama did to Wall Street and to the banisters who had brought us the crisis that he inherited when he was elected president, they turned around and poured money into the organizations that we think of as the tea party.

Ted Rudow III, MA
Menlo Park, California, United States

International Herald Tribune and The Daily Star are available every morning in: Lebanon, Syria, Jordan, Egypt, Qatar, Kuwait, United Arab Emirates, Saudi Arabia, Bahrain, Oman


Read more: http://www.dailystar.com.lb/letters.asp?edition_id=10#ixzz15C2iR8KL
(The Daily Star :: Lebanon News :: http://www.dailystar.com.lb)