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[teodroseIII]

My favorite part of the movie 300 was when King Leonidas prostrated himself in front of the “god-king” Xerxes, his seeming act of abdication lulling the Persian emperor into a false sense of comfort. All the sudden, Leonidas rose up, picked up his spear and chucked it right at Xerxes’s head. Leonidas did not hit his mark as the spear barely nicked its intended target, but then again Leonidas succeeded more in missing than he would have had he killed the would be colonizer. Xerxes bled and the world would know from that point forth that he was not a god at all–he was a mere mortal like the rest of the Spartans.

Witnessing what the Reddit sub WallStreetBets did the past couple of days reminded me of King Leonidas’s valor and Xerxes’s dread; individual investors banded together and coordinated an attack against hedge fund managers and short-sellers in order to make the “god-kings” of Wall Street bleed. And boy did the 1% bleed! Vulture capitalists like Met’s new owner Steven Cohen hemorrhaged over a billion dollars as they reeled in horror feeling the pains they inflicted on billions of people throughout the world during the Great Extortion of 2008. What is good for the goose if FINALLY good for the gander.

There is no need to cry tears for the plutocracy; whatever losses they incurred covering their shorts they will more than make up as the government rushes in to backstop their failures. Too big to fail never went away, Dodd-Frank perversely incentivized big banks, investment clearance houses and hedge fund managers to go on gambling while making it harder for smaller businesses to compete with corporations. Yet, yesterday they bled! And therein is the victory and the motivation we need to keep the momentum going...continued...

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