WSJ’s Ambivalent ‘Angel of Mercy’

CounterPunch editor Alexander Cockburn confesses (Nation, 11/19/08) to being moved to violent thoughts “while listening to the McLaughlin Group, all of whom presumably haul home at least $200,000 a year, as they deplored the unconscionable wages of line workers in Detroit”:

The same urge flares up when reading the Wall Street Journal‘s editorial page. As a matter of economic principle, the WSJ‘s editors have always taken a stern line about letting the weak die in the snow….

But when it came to prostrate bankers, the Angel of Mercy descended from heaven and took up residence in the WSJ‘s editorial suite. On September 27 an editorial approved of the $700 billion banker bailout. Then came GM’s crisis. On November 10 the Angel of Mercy quit the Journal‘s editorial page abruptly: “We hope Messrs. Bush and Paulson just say no.”…

You see, shoveling money at Goldman Sachs and the other titans of Wall Street constitutes systemic rescue of the billionaires vital to national well-being and self-esteem. Stabilizing the remaining core of America’s industrial base, particularly a core infested by people with union cards, is quite another matter.

See FAIR’s magazine Extra!: “20 Reasons Not to Trust the Journal Editorial Page” (9-10/95) by Jim Naureckas & Steve Rendall