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Greed and Folly on Wall Street

Discussion in 'Political Debate & Discussion' started by KenH, Aug 30, 2007.

  1. KenH

    KenH Active Member

    May 18, 2002
    Likes Received:
    Some very good points from Ralph Nader(someone with whom I rarely find myself in agreement):

    [SIZE=-1]"My father many years ago asked his children during dinner table conversation: "Why will capitalism always survive?" His answer: "Because socialism will always be used to save it." As a small businessman himself (a restaurateur), he was not referring to the little guys on Main Street. He was talking about the Big Boys. Today, we call these self-paying CEOs "corporate capitalists."[/SIZE]

    [SIZE=-1]Central Banks are government regulators after all. Among other impacts, they regulate interest rates. But they are so saturated with banking executives or former banking officials on their Boards, Committees and at the helms, that they see themselves as part and parcel saviors of their banking brethren....[/SIZE]

    [SIZE=-1]More and more, corporate capitalists in side and beyond the financial markets do not want to behave as capitalists-willing to take the losses along with the profits. They want Washington, D.C., meaning you the taxpayers, to pay for their facilities (as with big time sports stadiums) or take on their losses because they believe that they are too big to be allowed to fail (as with large banks or industrial companies)."[/SIZE]

    - www.counterpunch.org/nader08182007.html