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The banking game has been rigged since at least 1999.
Posted by Hates Idiots
16th Oct
Just
In
In
It is not "just business"
Posted by BCHillway
1st Dec
Show:
+2
Votes
abuse of the word 'socialism'.
that's not what it means. Please stick to the accepted meaning of words otherwise none of us will have a clue what anyone else is talking about. This is not socialism, it's just business. Powerful interests always act to maximise their power and interests. Is that new? The important word here is 'corporation'.
Posted by RHambeau
16th Oct
+5
Votes
Agree and disagree.
They're Johnston's words, so don't shoot the messenger.
That said, the headline is much too long anyway, and this term certainly doesn't help that fact. I've edited it.
That said, the headline is much too long anyway, and this term certainly doesn't help that fact. I've edited it.
Posted by andrew.nusca
16th Oct
+6
Votes
Sorry, but it IS an accurate term.
The term is Corporate Socialism, and the concept is that while the profits are indeed tagged for private retention, the FAILINGS of the system are indeed "socialized" -- that is WE CONSUMERS pay for the failures.
If you truly fail to understand this simple feature of today's Capitalism, I point you to the fact that the government recently bailed out the Banks -- rather than let them simply fail, as the "Free Market" myth says they ought to when they screw up.
If you truly fail to understand this simple feature of today's Capitalism, I point you to the fact that the government recently bailed out the Banks -- rather than let them simply fail, as the "Free Market" myth says they ought to when they screw up.
Posted by Lightning Joe
20th Oct
0
Votes
It is not "just business"
It is not "just business" to cheat the game -- meaning cheating taxpayers and the public -- by lying and fixing the rules. That is a lame, lame, lame excuse that flawed individuals have been using for decades to cover their bad behavior. If you cannot be an honest business person, stay out of business. The reason the nation is in this sorry fix is because Wall Street people fixed the game on housing, then walked away with millions, each, in bonuses as a reward for tanking their corporations and the nation. There is nothing to be admired in such individuals. Obama's biggest malfunction has been his failure to prosecute people in the financial sector for bad behavior. You may have noticed that the American people are running on a shorter fuse. Stay tuned. There is comeuppance in the wings waiting to take the stage.
Posted by BCHillway
1st Dec
+12
Votes
a free market?
You said "We pay four times what the French do for a triple play package of cable, Internet and telephone and they get worldwide TV, not just domestic; their Internet is ten times faster and instead of two country calling, they get long-distance to 70 countries at no extra charge. All that for $38 compared to the U.S. average of $160 including taxes. "
This may be true, but the really awkward thing about it is that in France, the primary provider is France Telecom, which drives the prices and keeps them low, which is State-owned and is to all intents a monopoly. You prove, awkwardly, that the best way to run a national universal telecom system and provide low-cost universal service is to nationalize it!! Is that your intention?
This may be true, but the really awkward thing about it is that in France, the primary provider is France Telecom, which drives the prices and keeps them low, which is State-owned and is to all intents a monopoly. You prove, awkwardly, that the best way to run a national universal telecom system and provide low-cost universal service is to nationalize it!! Is that your intention?
Posted by RHambeau
16th Oct
+10
Votes
seems like that was the point made
whether intentional or not.
I don't do cable, satellite, etc. and the reason I decline the services, and especially "packages" is that I know the prices are a cheat, and secondly, 80% of the available material is garbage that no one with an intellect or education would watch.
I don't do cable, satellite, etc. and the reason I decline the services, and especially "packages" is that I know the prices are a cheat, and secondly, 80% of the available material is garbage that no one with an intellect or education would watch.
Posted by opcom
16th Oct
+2
Votes
Not only a "cheat"...
...but theft as well.
EVERY "package" of cable channels the industry sells sends money to FAUX Noise as part of the "basic package."
This means that EVERY cable bill paid in America helps support the channel that every (THINKING) American knows is really a Propaganda Channel.
If we lived in Europe, we'd have a CHOICE to pay FAUX or not, based on Ala-Carte channel packages. Not in America, sorry.
Yet another way the Corporatists have us over a barrel.
EVERY "package" of cable channels the industry sells sends money to FAUX Noise as part of the "basic package."
This means that EVERY cable bill paid in America helps support the channel that every (THINKING) American knows is really a Propaganda Channel.
If we lived in Europe, we'd have a CHOICE to pay FAUX or not, based on Ala-Carte channel packages. Not in America, sorry.
Yet another way the Corporatists have us over a barrel.
Posted by Lightning Joe
20th Oct
-3
Votes
It is a 2 way street Joe.
I hate paying for MSNBC, CNBC,CSPAN, CNN, PBS, CURRENT TV, HEADLINE NEWS and all the other channels that are part of the propaganda arm of the liberal/socialist movement.
I would gladly cut off their funding with an al-a-carte buying plan. Judging by their poor ratings, most of those channels would fail if not kept alive by forced fees.
I would save a lot more money al-a-carte by dropping them than you would save dropping just FOX.
I would gladly cut off their funding with an al-a-carte buying plan. Judging by their poor ratings, most of those channels would fail if not kept alive by forced fees.
I would save a lot more money al-a-carte by dropping them than you would save dropping just FOX.
Posted by Hates Idiots
Updated - 22nd Oct
-7
agreed
Posted by cliffmeixner@...
| Below your threshold
+11
Votes
You forgot something in your rant cliffmeixner.
I'm a dual citizen of the US and Switzerland (born and raised in the US). In Switzerland we don't have greedy, corrupt, moronic Republicans messing everything up with stupidity. The US has the only people in the world stupid enough to believe in the failure known as trickle down economics. Reganomics was the worst idea in history and Regan was the third worst President the US has ever seen, (only preceded by the 2 Bushes). The US doesn't have to re-invent the wheel, there are plenty of countries that have surpassed the US and they make a great example of what to copy. (and here is a little clue, they all think the Republicants are worthless morons who only know how to run a country into the ground. I happen to agree with them)
Posted by i8thecat4
16th Oct
-6
Dear Dual Citizen
Posted by gjam
| Below your threshold
-1
Votes
Big talk indeed...
...from a citizen of a country that gets to remain wealthy as a haven for those who hide their wealth from the Progressives he so admires.
Posted by JohnMcGrew@...
22nd Oct
0
Votes
Compare this to India ...
Except for defense, ( no private contractors) , railways ( strictly state owned) , postal service (again state owned) all other services have state owned as well privately held service providers, banking, insurance, air and road transportation, health services, education, you name it. There is abundant competition in every field.
All services are firmly regulated and controlled by the state in the best interest of the people and national security. One has the choice to opt for any from a wide choice.
That is why there are NO burner phones available in India, No communication service is available without 100% verified identity of the individual availing that service. No way to hide caller ID. No way to disenfranchise absolutely any individual by any stupid ID laws. It happens to be a fundamental right as it should be in a true democracy. No filibustering either. BTW we do not have those moronic republicans, either.
All services are firmly regulated and controlled by the state in the best interest of the people and national security. One has the choice to opt for any from a wide choice.
That is why there are NO burner phones available in India, No communication service is available without 100% verified identity of the individual availing that service. No way to hide caller ID. No way to disenfranchise absolutely any individual by any stupid ID laws. It happens to be a fundamental right as it should be in a true democracy. No filibustering either. BTW we do not have those moronic republicans, either.
Posted by pmshah@...
Updated - 16th Oct
+1
Vote
Comparisonto India
You obviously don't understand free markets, the freedom and liberty they present to people of a nation. I wouldn't expect you to understand this being from India. A nation the U.S. has help lift itself form poverty.
Posted by gjam
19th Oct
+6
Votes
ISP prices
Here in Australia there is reasonable carrier competition, and our internet &c is closer to France's than the USA's.
Also, the prices were a higher and the service poorer when we did have a monopoly (Telstra owned pretty well all of the infrastructure, and charged retail prices to other ISPs to start with).
I think his point stands.
Also, the prices were a higher and the service poorer when we did have a monopoly (Telstra owned pretty well all of the infrastructure, and charged retail prices to other ISPs to start with).
I think his point stands.
Posted by kax@...
17th Oct
+12
Votes
Its the Regulator....
Its the regulator, NOT France Telecom that dictates wholesale prices in France and herein lies the difference between France and the US (and other states that suffer from uncompetitive telcos); ineffective regulators, stymied by incompetence and corporate lobbyists acting against the consumer.
Posted by dunphy
19th Oct
+11
Votes
Why not?
Well why not?! Cheap, universal services compared to increasingly expensive, dismal services?? It seems a no-brainer. But somehow this has become an acceptable standard for too many Americans.
Posted by confoundednj
19th Oct
+1
Vote
Good point
Good point ATT is a subfunction of the NSA anyway!
Posted by Altotus
19th Oct
+17
Votes
I prefer the term "crony capitalism" to "corporate socialism"...
...since at least in "socialism", the benefits or suffering are theoretically shared by most.
But fundamentally, I totally agree with him. Capitalism needs failure as much as it needs success. By not allowing the fundamentally broken banks to fail, we only encourage the bad actors responsible.
But fundamentally, I totally agree with him. Capitalism needs failure as much as it needs success. By not allowing the fundamentally broken banks to fail, we only encourage the bad actors responsible.
Posted by JohnMcGrew@...
Updated - 16th Oct
+15
Votes
You are right - it is capitalism without ethics.
There was a brilliant advert in a magazine that exposes a lot of corruption like this in SA - called Nose Week. They had an advert for a motor manufacturer asking for bailout that went along these lines: "You did not buy our sh*tty cars, so now we will take your money anyway." It points out the absurdity of what happened with the bailout system. These same companies who took hard earned tax payer money - gave no mercy to suppliers who went under. They then retrenched large portions of their workforce. By allowing the abusers of capitalism not to fall - the Bush administration ended capitalism. Regardless of party politics - capitalism needs reform as does the political system.
Posted by gvnll
17th Oct
+9
Votes
"Capitalism" doesn't need reform. The government does.
"Capitalism" is only a state of reality. It exists under all political/economic regimes. The only difference between these regimes is the degree that the state attempts to manipulate it.
During the Cold War, I used to tell people that there was a far more pure form of capitalism in Russia than there was in the US. It was called the "black market".
During the Cold War, I used to tell people that there was a far more pure form of capitalism in Russia than there was in the US. It was called the "black market".
Posted by JohnMcGrew@...
17th Oct
+5
Votes
That same "pure" form of capitalism
exists any time the established political system implicitly requires it; the requirement will never be explicit. Whenever the established system tends to strongly favor one group, while denying its benefits to others or when a commodity (e.g. drugs & alcohol) is too strongly regulated or denied by by that system, this "pure" capitalism springs up to make available that which is denied. Thus, "pure" capitalism existed in the USSR under the Soviet regime. It existed under Prohibition. It exists now under drug prohibition.
The problem with "pure" capitalism is it tends toward monopoly, and the potential/current monopolist will do what is necessary to gain or keep the monopoly. As this type of capitalism operates outside the established society, what is necessary is not usually restrained by current social mores. Thus, the gang wars and violence of the 20s were a natural process under "pure" capitalism...and the gang wars and violence of the last three decades are also a natural process.
The problem with "pure" capitalism is it tends toward monopoly, and the potential/current monopolist will do what is necessary to gain or keep the monopoly. As this type of capitalism operates outside the established society, what is necessary is not usually restrained by current social mores. Thus, the gang wars and violence of the 20s were a natural process under "pure" capitalism...and the gang wars and violence of the last three decades are also a natural process.
Posted by NickNielsen
19th Oct
-1
Votes
That odd...
...since almost every monopoly I can think of is, in fact, established and maintained by government.
Posted by JohnMcGrew@...
22nd Oct
+5
Votes
and the lying liars who tell them
The banks also promised to do mortgage workouts if they were bailed out, but then accelerated repossessions. They promised to loan to small business, the real job engine, but instead went back to gambling in the Big Casino. But everyone just accepted the lie and now the DOJ has given Goldman-Sachs a get-out-of-jail-free card by publicly saying they will never prosecute G-S.
Posted by James Mooney
19th Oct
+2
Votes
Depends on your viewpoint a corporation is a person of a sort
Socialism among the only ones who count the corporate citizens nonhuman immortal immoral psychopathic entities. Not little people. Like humans.
Posted by Altotus
19th Oct