Add Senator Rand Paul to Senator Charles Grassley on the list of Republicans who have joined President Obama in using the term "fat cats" to refer to those in the financial industry who are pursuing profits. Mr. Paul said in New Hampshire in April that Republicans "cannot be the party of fat cats, rich people, and Wall Street," Bloomberg News reports.
As we said here back when Mr. Grassley used the term:
Regular readers of FutureOfCapitalism.com know we're certainly not averse to criticizing the banks or even certain bankers or ex-bankers. But we'd also submit it would be a good thing for the level of discourse and clarity of public understanding if the term "fat cat" were retired. It just demonizes successful capitalists.