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Author: nosepail
Date: 03-23-12 11:19
Senate passed a financial deregulation bill yesterday, allowing companies to IPO without objective scrutiny of their finances. This is called a "jobs" bill, of course. Sad that the only way we can think to revitalize the American economy is to allow swindlers to play financial games. It is beyond comprehensions that no lessons were learned whatsoever from the financial meltdown of 3 short years ago which was caused by the systematic dismantling of regulations on the financial and investign sector. We are truly a country of morons.
Post Edited (03-23-12 11:21)
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Author: wade
Date: 03-23-12 12:29
Wall Street made out like bandits.
Nobody was prosecuted.
Even the executives that were forced to resign got their multi-million dollar payoffs.
Now their lobbyists are hard at work to cripple Dodd-Frank, which was already largely ineffectual.
Wall Street has no intention of changing its culture.
Even one of their own figuratively slit his own throat last week by stating so in the NYT.
What is to be done?
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Author: nosepail
Date: 03-23-12 12:51
Quote:
Wall Street has no intention of changing its culture.
Well, this is obvious. The odd thing is that the rest of us do nothing about it, allowing this deregulation to continue apace, and many of us even side with the parasites. Sigh....
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Author: Nile
Date: 03-24-12 03:44
nosepail wrote:
> We are truly a country of morons.
Present company excepted, of course. ;)
The system is rigged by the rich, powerful, clever and connected to take advantage, collectively, of those of lesser means, power, ability and influence.
Many see it as their prerogative and convince themselves of their righteousness in the merciless pursuit of their self interest. They convince themselves that anyone in a similar situation would do the same and any naysayer is simply expressing personal jealousy.
Some see life as a game that can be won by scoring the most points, and they are hell bent to win no matter what. Others simply see the world as being populated by predators and sheep...and in such a situation they choose to be on the side of the predators.
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