Opinion | The fundamental problem with Bloomberg is that he believes billionaire nonsense. By lopezlinette
All of these misconceptions are various kinds of billionaire nonsense, and it is crucial that Bloomberg explain whether or not he still believes any of it because — like it or not — he's a serious contender. His team is made up of some of the savviest operators in the business, he's been pumping millions into the election, and the Democratic nomination is still anyone's game.As mayor he ran a tight ship, a clean city, but one that becamethe longer he ran it.
That said, not all billionaires believe their own class' nonsense as Bloomberg has repeatedly. The ones who do are telling you something about themselves. They're telling you that they prefer to believe fictions that make life easier — that make their sense of responsibility lighter — because they can then deny the power that money gives to people in their class. And they can deny how they can cause harm with that power.
Bloomberg has, on several occasions, chosen to take the comfortable way, believing nonsense instead of facing these harder realities. This is not a good quality for a president.The clumsiest and most obvious of the billionaire nonsense that Bloomberg has bought into comes with a helping of racism., Michael Bloomberg had little interaction with people in neighborhoods targeted by stop and frisk. So he believed the people who told him that harassing young men on the street would lower crime rates.
It did not. Wall Street caused the financial crisis. On one side the financial industry sold poor quality mortgage loans and on the other side it lied about the quality of those loans-turned-securities. It then traded those loans back and forth around the world causing a gigantic mess of toxic assets. It seems needless to say, poor people can't do things like that.
But Bloomberg has spent his life doing business on Wall Street. And when you do business on Wall Street, and the whole entire world is mad at you for destroying the economy, it's a lot easier to blame someone else. So that's what a lot of Wall Street did. Instead of taking responsibility they blamed the poor,
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