© Wall Street on Parade
Yaron Brook promoting his Greed Is Good platform on the John Stossel show on Fox Business
Yesterday, President Obama appealed to fellow Americans to help him focus Congress on efforts to stem the unprecedented income inequality in our Nation. Tonight, one of the denizens of the greed-is-good corporate front groups, Yaron Brook of the Ayn Rand Institute, will attack that message in a speech at NYU.
New York University presents an ideal forum for Brook. It's a microcosm of the pitched battle for the soul of America. The Wall Street cartel has oozed itself into NYU's boards, municipal bond issuance, student loans, mortgage loans, credit cards and naming rights on buildings and auditoriums. NYU now has the highest tuition in the country, crippling student debt, while it simultaneously doles out forgivable loans to elite administrators for mansions in the suburbs.
As a determined group of over 400 faculty attempt to restore the University to its core educational mission and reduce the need for student loans, they are being maligned by the pro Wall Street university leadership much as any populist message is maligned on the opinion pages of the Wall Street Journal.
In a speech hosted by the Center for American Progress yesterday, the President said the U.S. now ranks along the lines of Jamaica and Argentina in terms of income inequality. "The top 10 percent no longer takes in one-third of our income - it now takes half," said the President. "Whereas in the past, the average CEO made about 20 to 30 times the income of the average worker, today's CEO now makes 273 times more. And meanwhile, a family in the top 1 percent has a net worth 288 times higher than the typical family, which is a record for this country."