We have met the Enemy, and he is us.
Wall Street has a good deal of leverage in the corporate board room because of the amount of money that the Wall Street funds are putting into the corporations.
These funds are the 401K 's that everyone has and watches closely since it is the major source of retirement money for many people since the corporations are cutting retirements to keep profits up. If the fund underperforms, the boomers pull the money and roll it over to another fund.
This 401K money is provided by boomers and the corporations that they work at. As you see, it comes full circle. Our expectations for excessive profit leads to pressure on corporations that in turn causes the corporations to cut people to make the profit objectives.
It's like the story of the Chinese dragon that ate everything and then started eating its own tail. Eventually it ate itself up and disappeared. God help us if that happens with this economy.
