Wall St: More complicated means more profitable

[GBPaddling]

The last line in "Wont get fooled again" by "The Who" sums up all this new Presidents/Prime Ministers/Dictators thing: "MEET THE NEW BOSS,SAME AS THE OLD BOSS"

[bbburton]

It's not complicated, it's fraud, and fraud is a crime. The cure for fraud is to prosecute those who perpetrate the fraud. But what does gov do? It rewards the criminals and punishes the people. And what do these guys propose? More regulation. What a waste.

[Seleucus84]

Real journalism. Thanks Jay.

[hamletundone]

"It's indistinguishable from corruption"

I gotta remember that one

Shakespeare would be proud.

[hugegiantfrogs]

this is a great interview, gotta love Paul jay, my favorite interviewer on the web, since i dont watch TV. Real News is still jaded though

[Pinch0fSalt]

Jaded in what way?

[blackiron60]

Globalization shields these big banks from the repercussions of their own crimes. No one nation, including the U.S. (even if it wanted to), can take on global capitalism alone - the globally mobile corporate elite will always find a way around national regulations. Unless there is global governance, global civil society, global democratic input, regulation isn't going to mean anything.

[asperin]

And who you think is going to run the global governance?

BINGO! The same crooks that run the othe governments !

You've got a wrong concept.

No more subsidies and bailouts, no State intrusion nor participation in the market.

That way corporations can't hold a monopoly on any product, they can't lobby, they can't bribe or infiltrate the State to increase their profits.

THAT is a solution.

The State has failed and it fails in concept, it allows for corruption to take place and to grow fast.

[blackiron60]

So you're "solution" is to plunge the world into anarchy and cutthroat competition - typical libertarian garbage.

[asperin]

@blackiron60

No, my solution is to abolish the coercive monopoly of the State and its methods of funding through extortion to allow consenting individuals to deal with each other voluntarily.

This can be achieved by decentralization of power, escalating secession and a free market.

It is not garbage, it is a concept that does not contradict itself unlike your concept of violence and mob rule that is supposed to bring peace and order.

[blackiron60]

What's the matter? Are you afraid of the people?

[asperin]

@blackiron60

How could I be.

I favor a voluntarist society, a free market.

That is direct human interaction to the fullest.

You seem to be scared of people.

You need a group of people with a ~higher than thou~ mentality bossing others around to supposedly ensure peace and order.

I really didn't understand where did your question came from, you might need to specify it if you really meant it.

[dmp079]

Blackiron60,

The discussion I had with asperin and the points he/she put forth is a libertarian view point.

[asperin]

@dmp079

Actually, I'm not libertarian, I go all the way, I advocate a complete free market and abolishing the State completely.

You can call it market anarchy, anarcho-capitalism or anti-statism.

[dmp079]

Thats good your beliefs is that way. Good for you. I just don't agree with you.

[TenseAlcyoneus]

I've been very critical of The Real News. I don't agree with Robert Johnson's prescription of government receivership.

Still, even though I disagree, this is one of the best pieces of journalism on the financial crisis. Johnson's bebop analogy is brilliant. The questions of the interviewer were sequenced logically, and they were unbiased. The visual editing is unobtrusive, yet it aids the memory.

Real News, well done! This helped me understand the issues.

[motorolarules]

"Our public" as he said would "have the will" as he said, if the media, banks, government told us the truth. We have no "will" out of ignorance not an unwillingness to fix problems we didn't create. In our home, if we create a problem we fix it.

[dmp079]

Capitalism is sucking this country dry. We need a more MIXED ECONOMY in this country, which we already have but they are trying to take that away. All socialism, all communism, and all capitalism does no good for any country, because you leave one class lower or higher then the other.

[zoticus1]

Capitalism does not exist in America, what we have here is a government ran by corporations for their interests, setting policy for their benefit and crafting it to eliminate competition.This is not capitalism this is FASCISM.God the real news is SOO behind the curve!

[dmp079]

What is sad is that this type of run by the corporations involving the government was warned by Thomas Jefferson and Dwight D. Ensignhower. This country (and by that I mean the people!) needs to wake up!

[RCinPAWA]

Capitalism doesn't exist in this country.

[dmp079]

Oh believe me I know. It was started as a predatory type of capitalism with Reagan in the 80's, only to become more of a small level of Fascism. Like we have today. Us as American people need to wake up and put an end to this BS. The only way is to elect more people in politics that care more about the people then the corporations. Unfortunately that may never come soon enough.

[RCinPAWA]

dmp, saying predatory fascistic capitalism is capitalism is like saying monopolistic socialistic free enterprise is free enterprise. Check out Ludwig von Mises.

[dmp079]

Believe me I know how this economy is going. That is why I pursued a degree in business operations and management. I am not pleased how the economy of the United States is ran. I am not a libertarian in my political beliefs, but as a progressive I do believe in the economy being regulated to benefit the middle class. We are the ones who drives this economy, not the rich.

[asperin]

@dmp079

And who is going to regulate the market?

The institution(the State) that can be infiltrated, its politicians bought and bribed and one can lobby for laws?

The State is a faulty concept to begin with.

You got money? You can control it.

And remember that they fund themselves through extortion. They take money from one group and give it to another, creating an incentive to do less, be dependent and it promotes the over reproduction of ignorant people.

[dmp079]

The government can regulate any business that delivers a good or a service. A complete free-market system does not work. A Mixed Economy is the only way a country can survive. Businesses are here for the people, and when corporations get out of line they should get regulated to get put back in place. I do not drink the conservative or libertarian kool-aid. Sorry!

[asperin]

@dmp079

"A mixed economy is the only way a country can survive"...

That is the problem, the country, the arbitrary illusion of "patriotism", imaginary borders that keep people economically imprisoned, having the State profit at the entry points and extort money within its limits.

A country is an old isolationist concept.

Corporations can buy State power, is what happened and it will happen because the State is open to individuals and corporations are composed of individuals.

[dmp079]

I gave you no thumbs down until now. I know all about corporations, and their influience at the government level. The surpreme court decisions that gave corporations power and influience in D.C. needs to be reapealed. Bring back the leash on corporations like it should be. Businesses are here for the people, not the people are here for businesses. Again I do not frink the liberterian or conservative kool-aid.

[asperin]

@dmp079

Yeah and you want the prostituted US govt to regulate its pimps(Corporations).

That fails, dude.

Not because the govt is corrupt and should be replaced but because the nature of the State allows for corporations to take over it, openly or secretly.

BTW, I didn't give you the thumb down you had.

What kool-aid do you drink?

[dmp079]

Nope it does not fail dude. Because their are some people in this country who believe in taking on the corporations and breaking their rule on the way they influience politics. Both locally and nationally. Just so happens we have not found the right person as of yet, but they are here. I drink my own kool-aid. It is called independent reasearch beyond talk radio and TV News.

If you did not give me a thumbs down I appologize.

[asperin]

@dmp079

You're waiting for the messiah president.

You still have a bunch of congressmen, senators, and public "servants" to deal with, who can be bribed and make mistakes, they are human, why trust them more than a voluntarist system?

These people are elected by the mob, Democracy.

We can't expect anything to be fair like that.

Fair would be secession, people of different ideologies separate.

A free market where people vote with the way they VOLUNTARILY make business with others.

[asperin]

@dmp079

And we drink the same kool-aid, you just haven't had enough of it because you still don't know how the market works.

The day you understand the basic principles of economics you will see things differently.

Economics is KEY in finding solutions to our human problems.

[dmp079]

I know how economics works because I am getting a batchelor degree in Business operations and managment. Plus watch and read many economic stories and videos We just have a difference of how an economy under the people should be ran. You believe in free market voluntarism, and I believe in regulation in certain areas of the economy to benefit the people.

[asperin]

@dmp079

Austrian Economists disagree with regulating any of the market.

They believe the market should only be regulated by its participants, producers and consumers, via supply and demand.

-Continues-

[asperin]

@dmp079

I see that as logical, makes perfect sense, even to those who do not want a free market agree JUST on principle, YET they see humanity frozen in time, as savages that would never be able to be trusted so they form management groups(govts) with an indefinite lifespan, who use violence to put order, but quite the opposite happens as demonstrated over and over again.

Keynesian Economists should recognize their defeat and faulty Economics and rethink their ideas of how a market should be.

[dmp079]

This is not Austria. Plus you just met someone who just does not agree with the Milton Freeman or Ludwig Heinrich Edler von Mises economic theories. Good debate though.

[asperin]

@dmp079

"This is not Austria"

The Austrian School of Economics is not only for Austrians or does it only work in Austria.

You should have known that if you knew about Economics.

[dmp079]

I know about the Austrian School of Economics that is why I mentioned Ludwig Von Mises. Not a fan of the Laissez-faire without control in certain areas. We just have different economic thoughts. Again good debate.

[DanMorgan98]

Really? You're getting a "batchelor degree?"

[dmp079]

I'm waiting for the messiah president!?!?

LMAO!

VOLUNTARISM is not my cup of tea. That was tried in the 1920's and look where that got the country.

Nice try to get me to agree with your principles, but lets end this disscussion with a difference of opinion.

[asperin]

@dmp079

Voluntarism was never tried as a State policy because the State is the opposite of voluntarism.

Voluntarism is what humans engage in as we have a nature to cooperative between ourselves, this is why civilizations exist.

I'm just saying, allow people to deal with each other freely, without some institution coming and imposing their beliefs on them like religious regimes do on it's colonized regions.

You are saying people need to be bossed around, I disagree, yes.

Peace

[phfrankh]

Or, even a commentary on the commentary of the commentary (;-)

[Pomeray8]

End the Fed!

[kmarinas86]

I think our banking system would operate better if worked like a national franchise. The government would lease banking rights to individual entrepreneurs who would set up their own bank and cost structure. They would all use the same nationally operated system to allow consolidation of securities. This way, they can share economies of scale greater than before. Then the entrepreneurs would focus on reducing COSTS and increasing profits while earning in the same way as any other franchise.

[abilityoflove]

Capitalism is not just a product of the rich. It is equally product of the poor, who see in the rich everything they wish to become. It is a two-way relationship. Hence the change needs to happen on all levels and the blame is not just with the rich.

In other words the system is an ideology which is why there is no will to question it as that would lead to a psychological transformation.

[abilityoflove]

The reason why financial organizations have been given so much freedom to do what they want is in the financialialization of the society or financial totalitarianism, which in turn is the result of the turning money and greed into a religion. Everything that is done in society stems from emotions.

If desire would be directed toward different values, we would not have these problems.

.

[greyflcn]

Promise to responsibly take on a liability for money,

Avoid paying for the liability when it comes due

And then pocket the difference

Lie, Cheat, Steal

Easy as 1, 2, 3

[abilityoflove]

I agree. Many financial big boys should be arrested for ruining lives of millions.

Instead they are rewarded, bailed-out and allowed to channel the bail-out money into their bonuses!

These people believe they have a god-given right to take others money and the society seems to honour their belief!

One reason for this is that money is globally perceived as the creator of wealth rather than the hands that make it, thus everything is upside-down...

[MrRightAllTime]

change--big corporation can believe in.

spare change for the rest of us

[asperin]

@abilityoflove

Who is going to arrest the financial big boys?

The cops? Thus the thugs that are funded by money taken from people by the State who BTW believes they have a god-given right to do so.

Do you see the contradiction?

[happyprometheus]

@asperin

No...

[asperin]

@happyprometheus

I wasn't talking to you but I'll explain in case the other guy asks me too.

He wants cops, the State, to arrest corrupt businessmen.

And he disagrees with the concept of taking money from people, believing it is your duty to do so as instructed by a gods.

The State takes money from people, because they believe that they a responsibility.

You deny? they fine you. You refuse to pay? They jail you. You refuse to go? They take you by force. You defend yourself? They shoot you.

[asperin]

*** I missed putting the word HAVE between THEY and A RESPONSIBILITY. ***