The problem as I see it is because people's are fed up with the government. They are taking on Wall Street is because Wall Street owns all the governments, which in term own us.
About the TARP money, it has never reply. If they take it free, and turn around and able to leverage to 40 to 1 or something and buy treasury bill. Even if treasury bill is at 1% that's 40% risk free money.
To me, Capitalism can't work without balance. Socialism definitely doesn't work!
Capitalism only works when there is a high moral fiber. Rich people only get rich in my opinion because of the shoulders they have stood upon whether it be laws, people, family, education system, highways, etc...
Here in Hawaii, the wealthiest are those that tap into the State and Federal Government for their gravy train. It is disgusting to see and I hope someday to see it end. And by the way, these are people that lean HARD RIGHT!!!! Funny how that works. As long as it is for them, then government programs are great.
WE can all be VICTIMS and blame blame blame, but we all put ourselves in this situation. Who's fault is it that we are all fat (I am not!), poor diet, poor work ethic (compared to earlier generations).
I don't want to blame, but to me I think you had a very sad war, a baby boom, then a bunch of f-ed up kids from f-ed up dads coming back from the war and now they have been setting policy for 30 years that will destroy us.
****I have a SOLUTION!!!!!
Take every political office term and multiply it by 1.5
Example: President = 4 * 1.5 = 6
President serves 6 years. No reelection, no bullshit, done done done. 200 years ago a president could do only so much harm in 8 years. Now they can do considerably more and there is too much bullshit like "We don't want to give the President a "WIN" for the next election! WHAT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Senators get 9 years!
Representatives 3 years!
A person can hold only one type of position in a lifetime. Senator once only, then could be a representative, then could be a President etc..
If you are vice President, then you could become President or any other political office.
Let's get back to Servant Leadership!
To me, that is the solution, no more lobby bribes, corruption (limited) and Congressional health care etc...
I will serve or run for office if I know I will have a chance to get on a decent committee without sucking the balls of some tired dipshit who has no moral barriers.
Congressional committee assignments will be done via blind voting. Each person gets one vote for each committee position.
SOLVED. No more bullshit, no more corrupt Goldman Sach's employee's running Treasury, FDIC, SEC!!!!!
I don't think it's fair to assume that the ONLY way people get rich is by taking from someone else. And by that I'm thinking of the Steve Jobbs, or Gates, or Buffets. Those people, or people like them that create something someone else wants to buy, or take a risk at some point by investing in something, I don't think it can get any fairer than that.
It seems you are describing a situation where it is likely, a failure of GOVERNMENT and the people that appoint those people. If someone gets rich by steering a government contract their way and paying off a politician, that's a failure in government and it's supporters. Basically ANY entity that receives an actual subsidy of some sort(not a tax reduction but an actual payment, or some type of government backstop), there will always be room for impropriety. Sure THOSE types of people are getting wealth based on the shoulders of someone else, but that's the fault of the government.
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What this should really be about. A return to free markets.
The economy is being destroyed by FINANCIALIZATIION, pure and simple. Denninger, as usual, hits the nail on the head. The title of this post should more accurately have been: a return to a real economy based on production rather than speculation, manipulation, monopolist parasitism, asset stripping.. and perpetual war.
I think the protests show the strength of the youth and the young at heart. Unfortunately a lot of them do not bother to do research and as a result their reasoning and logic is subject to whoever sounds the most passionate or wears the least expensive birkenstocks. I remember getting in argument with a person holding an "Obama is Hitler" sign last year. He talked about Obama and bailing out banks ad nauseum. I asked him his views on the Frank-Dodd act and was met with a blank stare, I asked him if he had done any reading and whether he knew that recent steps made by the president were viewed by many as anti-business. This was met with another blank stare before he repeated his initial pitch and tuned me out.
I applaud those that have the willpower to stand up for what they believe in, but at the same time question their beliefs and whether they are seeing the world from an incorrect frame of mind. It is easy to pit the corporations (and the 1% of the population) as purposefully trying to rape and pillage 99%, but that is vastly oversimplifying the dynamics between class, political views, capitalism, nationalism, etc.