NEVER forget that you were warned about the economic disasters that occur from DEREGULATION. Those who want you to deregulate want to steal your money or your neighbors money...even without you realizing it. I worked for the strongest advocate for deregulation who tried with BUSH's help to steal EIGHT BILLION from the CA energy market and who ended up stealing SIXTY EIGHT BILLION from my fellow employees and investors in...ENRON CORP which was the largest corporate fraud in the history of man.
@JayGatsbyOdysseus They believe that the world runs like the Fountainhead and Atlas Shrugged which are FICTION where Rand can predetermine the outcomes to fit her philosophy. In the real world, when people deregulate, honest hard working men loose fortunes when the deregulation crooks deceive them...like I did. Besides working for ENRON I worked for two large banks which failed under Reaganomics and one took the TARP bailout since they were "too big to fail".
@exenrontexas I understand and I agree with you. I read Atlas Shrugged. I do not understand how supposedly intelligent people fall for Rand's bullshit. I guess the reason is they don't believe it to begin with. They just use her philosophy to justify their greed to others. Rand really lost me when she was writing about love. Dangny Taggart was sleeping with Hank Readen before she started sleeping with John Galt. Anyway, Rand wrote that a woman should only give her sex to the man for some
@JayGatsbyOdysseus So true about the rationalization. I heard the worst corporate criminal in the history of mankind rationalize his fraud because it was good to the corporation in the short term. Enron preached Milton Friedman and Ayn Rand because they validated Enron's crimes. Enron cheated employees, taxpayers and their customers all for short term profits which boosted their bonuses.
Nice ! Worth the time. Faith and belief have no place in science. Economics has become the religion of unregulated thievery. Capitalism is a system in which society and government set the rules. The Market does not have a mind or morals. The Free Market is a total delusion created by people who think Ayn Rand is a deep thinker & not a hack writer. So the question becomes how do we de-program 40-50 years of MBAs & PhDs? Read Joseph P. Stiglitz's "Freefall" Economics, not Religion.
the little guy out of existence,it's human nature,we're greedy and want more at the expense of others.There needs to be strict rules on that,without that the system you call capitalism is doomed to fail again and again just like it upto now.
@ EyeAm Soul: yes there needs to be a ref, but that alone isn't enough.There also needs to be limits on wealth and/or power.Capitalism today allows too much money & power in a very small # of hands and this skews the game.When that happens you can't expect a level playing field for all participants.Take the example of Google and a very small innovative internet firm competing in the market to gain marketshare,what chance does the small firm has?Next to nothing,because the big guy will blowtorch
Greenspan was wrong just like his idol and mentor was wrong. Ayn Rand had the foolish notion that business should be UNREGULATED and markets by their very nature will regulate themselves. That is like saying a baby, at birth, can feed, clothe, clean and care for itself. It is like saying it is OK to put the banks money in the middle of the bank lobby and walk away and it will be there in the morning. Ayn Rand was an idiot posing as a responsible adult.
In other words capitalism is certainly not perfect, but what other alternatives are there? I know that I'm getting off the point here but I had to get this off my chest.***More to the point , This show really points a lot of the blame on Greenspan. As far as Summers and Geithner, its become common knowledge that they were involved w/ a lot of the problems that we are facing. The only person who doesn't seem to see this is Pres. Obama.
I believe in "free Market" capitalism, but...that does not mean total deregulation. There needs to be rules to protect people from fraud, deception and greed. I think the idea of "free market" ecomomics, or "free market" Capitalism has been abused. My theory is to use an metaphor of a sport/game. In a game there are rules. In a sport there are rules and a referee. I do not agree w/ Michael Moore in his movie "Capitalism", that Capitalism is evil. I am a capitalist. There needs to be a ref.
NEVER forget that you were warned about the economic disasters that occur from DEREGULATION. Those who want you to deregulate want to steal your money or your neighbors money...even without you realizing it. I worked for the strongest advocate for deregulation who tried with BUSH's help to steal EIGHT BILLION from the CA energy market and who ended up stealing SIXTY EIGHT BILLION from my fellow employees and investors in...ENRON CORP which was the largest corporate fraud in the history of man.
exenrontexas 3 months ago
@exenrontexas I wish people understood this like you do. I hate being around stupid Ayn Rand desciples.
JayGatsbyOdysseus 2 months ago
@JayGatsbyOdysseus They believe that the world runs like the Fountainhead and Atlas Shrugged which are FICTION where Rand can predetermine the outcomes to fit her philosophy. In the real world, when people deregulate, honest hard working men loose fortunes when the deregulation crooks deceive them...like I did. Besides working for ENRON I worked for two large banks which failed under Reaganomics and one took the TARP bailout since they were "too big to fail".
exenrontexas 2 months ago
@exenrontexas I understand and I agree with you. I read Atlas Shrugged. I do not understand how supposedly intelligent people fall for Rand's bullshit. I guess the reason is they don't believe it to begin with. They just use her philosophy to justify their greed to others. Rand really lost me when she was writing about love. Dangny Taggart was sleeping with Hank Readen before she started sleeping with John Galt. Anyway, Rand wrote that a woman should only give her sex to the man for some
JayGatsbyOdysseus 2 months ago
@JayGatsbyOdysseus So true about the rationalization. I heard the worst corporate criminal in the history of mankind rationalize his fraud because it was good to the corporation in the short term. Enron preached Milton Friedman and Ayn Rand because they validated Enron's crimes. Enron cheated employees, taxpayers and their customers all for short term profits which boosted their bonuses.
exenrontexas 2 months ago
These men were shills put in by the powers that be to destroy the US economic system and make tremendous profits for the banksters.
g777enn 6 months ago in playlist Behind The Meltdown
Nice ! Worth the time. Faith and belief have no place in science. Economics has become the religion of unregulated thievery. Capitalism is a system in which society and government set the rules. The Market does not have a mind or morals. The Free Market is a total delusion created by people who think Ayn Rand is a deep thinker & not a hack writer. So the question becomes how do we de-program 40-50 years of MBAs & PhDs? Read Joseph P. Stiglitz's "Freefall" Economics, not Religion.
GSfreebooks 10 months ago
I don't know what to say anymore
BatusaiJack 11 months ago
Greenspan stated know one could've seen it coming, but that is for the layman. Every one of these crooks not only saw it, but wanted it to happen.
gordontuckerflash 1 year ago
the little guy out of existence,it's human nature,we're greedy and want more at the expense of others.There needs to be strict rules on that,without that the system you call capitalism is doomed to fail again and again just like it upto now.
frugalite 2 years ago
@ EyeAm Soul: yes there needs to be a ref, but that alone isn't enough.There also needs to be limits on wealth and/or power.Capitalism today allows too much money & power in a very small # of hands and this skews the game.When that happens you can't expect a level playing field for all participants.Take the example of Google and a very small innovative internet firm competing in the market to gain marketshare,what chance does the small firm has?Next to nothing,because the big guy will blowtorch
frugalite 2 years ago
Greenspan was wrong just like his idol and mentor was wrong. Ayn Rand had the foolish notion that business should be UNREGULATED and markets by their very nature will regulate themselves. That is like saying a baby, at birth, can feed, clothe, clean and care for itself. It is like saying it is OK to put the banks money in the middle of the bank lobby and walk away and it will be there in the morning. Ayn Rand was an idiot posing as a responsible adult.
exenrontexas 2 years ago
Deregulation that allows fraud is not capitalism, but Criminalism!!!
adriansrfr 2 years ago
Allowing fraud has *never* been a free market principle. Shame on Greenspan and his kronies!
adriansrfr 2 years ago
In other words capitalism is certainly not perfect, but what other alternatives are there? I know that I'm getting off the point here but I had to get this off my chest.***More to the point , This show really points a lot of the blame on Greenspan. As far as Summers and Geithner, its become common knowledge that they were involved w/ a lot of the problems that we are facing. The only person who doesn't seem to see this is Pres. Obama.
EyeAmSoul 2 years ago
I believe in "free Market" capitalism, but...that does not mean total deregulation. There needs to be rules to protect people from fraud, deception and greed. I think the idea of "free market" ecomomics, or "free market" Capitalism has been abused. My theory is to use an metaphor of a sport/game. In a game there are rules. In a sport there are rules and a referee. I do not agree w/ Michael Moore in his movie "Capitalism", that Capitalism is evil. I am a capitalist. There needs to be a ref.
EyeAmSoul 2 years ago
Thank you for your comment, only those who watch can spread the word.
ashlievideo 2 years ago
This was extraordinary. Thank you for posting it. I hope everone watches the whole show.
bulbheadmyass 2 years ago 5