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From: TheYoungTurks
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  • Anyone who thinks greed is good needs to be sent to a mental institution. Greed brought down the economies and produced the great recession, 1970s-1980s energy crisis, early 90s recession, Enron/Worldcom scandal in 2002 and now the recent financial crisis.

  • Go buy the "Flame Of Fire" song by trektotrango at itunes for flippen .99 cents and you just discovered the only solution to this age-old problem, you can watch a snippet video of the song at the link at the bottom of this post.

  • What you said is totally correct. I think all public companies have the same attitude. It's not our money. It's other people's money. Private companies used to be careful because it was the owner's money. Now why not bet the farm. If we win we make a lot of money. If we lose, the stockholders lose and we go get a job somewhere else and do the same thing over and over again.

  • Cenk sucks at his job (I mean just look at the weak 11K views this video has) and yet he still gets paid.

  • The point is, ladies and gentlemen, that Greed, for the lack of a better word, is Good. Greed is right. Greed, works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms, Greed for life, for money, for love, knowledge, has marked the upward surge of mankind and Greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA. Thank you very much.

  • Comment removed

  • @CrazyBrah21 Not to point out that Greed undisputedly is one of the worst sins, but there is a reason why Greed is such a capital sin

    Greed aspires to the easiest route to "happiness" in any way possible. If there for example is a possibility to buy an academic degree rather than learning the skills required, buying is preferable.

    If a company with monopoly (via competitive elimination) wants to raise the price and lower the quality of their service, they will

    Greed is unethical and unpatriotic

  • Communist fucks

  • This is an editorial, and does not reflect the view of the wall street journal, please accurately title your videos

  • greed is good if its rational, that is, creates no victims. Me working hard in the private sector to get richer is rational selfishness. Irrational selfishness is when politicians, welfare bums and criminals do their work.

  • greed is good and works and we must keep it that way , dumb communists will never learn

  • @beefdog I don't know is that a joke or not. But if it is not, why not than steel stuff. Its free, more money saved

    and you probably wont get most of goods you steel any another way. Why pay your children college,

    I mean they should probably wont get job they want. Why get only one wife, she can get sick or may have

    difrent plans. Its beter to have replecment. Why help people, whats in it for you. Why not kill your competition?

    Greed can not be good aventuly you run out of things to get.

  • @TimeWarp66 One form of "government distortion" is building roads companies can ship their products on, grants for innovations... satelites for gps applications... printing money... creating the internet... creating a system of commerce where the so called "free market" can exist. It's all "distortions" there's no "natural state" of the free market from which the government tweeks it. And there's no real distinction between market and commons. It's an illusion.

  • Economics reveal that Wall Street bonus are necessary. Study some economics and stop acting like a dumbass

  • I plague allegiance to the dollar

    That feeds the corporate machine,

    And to the Wall Street,

    For which it stands,

    One Nation,

    Built for the Rich,

    Indistinguishable

    from the Monarchs,

    With persecution and taxation for all

    Signed-JDW

  • one bonus and the men would live a luxorious lives without working a hour the rest of their lives, is it about money anymore?

  • these crooks need to be in prison so they can get there well deserved Bonuses up

    there Ass!

    they should be able to fill are pain ,and have there butts kicked in.

    then and only then, will they really feel pain!!

  • The wall Street Journal is a JOKE!

    Wall Street is Corrupt and incompetent.

    The American People are FUCKING SUCKERS to stand aside and allow wall street to rape them and their grand kids so that they can collect billions in bonuses!

  • Bank, insurance company, brokerage firm, lending company execs etc. are greedy whoreslutters who milked & bilked (stole) the savings & incomes of millions of hard-working families just to feed their lust. They stole cash, then pissed it away, got bailed out and now are raking in record profits. What the heck? How can these exec losers look at themselves in the mirror? They must have no shame, no conscience. Sucks. They thieved & now roll around slobbering and gibbering in piles of stolen cash.

  • The stupid Turk has it wrong again. It is the politicians he worships that are greedy. Politicians are the most greedy people on earth.

  • This fat piece of shit has no idea what he's talking bout.

    Type in "Milton Friedman Greed" here on youtube to see how easy it is to dispel this childish greed bashing argument by leftists.

  • @TimeWarp66 I think he assumes theres are market forces that stop this kind of wealth destruction.

  • @zxcvbnmjhgfdsa1

    Capitalism is both a profit and loss system.

    And the free market does not exist in this country, hence true market forced did not come into play. Government distortions did instead.

  • Comment removed

  • @TimeWarp66 Free market also assumes that shareholders have some voice in the corperation rather than trying to hang on to whatever dividends while CEO rob the company. Sure they can sell shares but the next companies CEO is just as greedy.

  • the system is a criminal ...

  • What I don't get is that you are supposed to get bonuses for doing good right? I did my fuckin hardest at horrible jobs and still didn't get bonuses. These guys screwed SO BAD that the whole country's economy is in the toilet and they still get bonuses?! HOW?!!!!!!!!!!

  • lol...."The system has become more complex"

    WRONG

    The system has become more CORRUPT

  • @resourcebasedeconomY The system has become more complex on purpose. It is pure thievery under a guise of jargon.

  • kill the filthy rich, or at least stop supporting the direction they want. their is no such thing as a positive trickle down system. we are the masses and we are stronger than we know. if we were organized, we wouldn't be going through this mess. we are ignorant of our strength and that's how they like it.

  • well said...first we need to meet somehow privately though.

  • If no one amongst us is capable of governing ourselves, then who amongst us is capable of governing others?

  • Hogwash. We are capable; the problem is no one is being held accountable for their actions.

  • yes, we are capable. it would only take the comfort of knowing we would not see harm to our families and ourselves if we did speak out in the streets. nothing would happen if it was not only one but millions upon millions in the streets protesting and speaking out. we're just scared shitless cattle for the slaughter.

  • All Wall Streeters are living Ayn Rand's fantasy. They refuse to accept that Rand's world is a total nightmare.

  • I agree with Volcker...the only innovation of real significance in the banking sector was the ATM. Everything else has had the effect of misallocating capital to activities that increase value to Wall St and certain top execs (eg, M&A deals) and divert it from investment in things that allow business to improve core offerings and competiveness.

  • Please think, capitalism is the reason why you and I are not living in poverty, the government, on the other hand, is trying to take this fact away. AIG gave retention bonuses to employees that performed a critical service for the company, although they were in deep trouble, the net result would have been far more catastrophic if they were not involved. Having a hand in stopping a TOTAL collapse of the world's economic systems deserves a bonus, don't you think?

  • We should not have given them the money, that is what the problem is.

  • The capitalist model is so fucked. I can't believe that editorial author quotes Keynes. Keynes was for government involvement and regulation, he said those animalistic tendencies of the market weren't a good thing cause it led to huge fluctuations.

  • ok, cenk dude, you need to take the progressive bias off your point of view. Bonuses are what cause the best architects bankers executives from all over the world come to america, and besides that, america's economy is based on incentives. The American Dream is an incentive for risk and hard work and bonuses are incentives. I' m not a banker

  • Bonuses are ok if the company prospers. But if the company fails....bonues are not ok! Failing companies should not pay bonuses. in fact they should go out of business. But thats another blog.

  • Isn't it stupid that Obama voted yes on propping up Wall St. arsonists only to find out they spent the loan on bonus. If he could not see that coming, how much more mess he's going to run into?

    Obama is an emperor neither has cloth on nor knows what he's doing.

  • Isn't it also stupid that Bush didn't try to stop the bonuses either. These bonuses where planned months before they got bailout money, qnd given out when Bush was still in office.

  • Oh, yeah, they're really the best and the brightest--sarcasm.

  • Well if they really respond strongly to incentives how about cutting their pay and/or firing them?

    That should be a good INCENTIVE not to pull this kind of unethical manipulation on clients, shareholders, taxpayers and the government in the future.

  • You go Bob! I hope those corporate fat cats get what they deserve. Anyone who argues that they should get these "bonuses" that aren't bonuses is a F***ing retard.

  • The whole greed is good thing reminds me of that John Stossel bullshit.

  • Sadly, the intended satire of Gordon Gekko is lost on most people like this editioralist. Most of them don't even "get" Adam Smith, despite claimed heor worship. Self interest does NOT equal greed, for starters. Greed is by definition cancerous, misinformed and childish conceptions of self-interest.

  • I suddenly want a Young Turks decoder ring...

  • hey Cenk. it might not be too complicated for you, but for a lot of the idiot backwater people, it IS

  • Greed is definitely good... for a greed based market system.  Is greed considered good for human society though?

  • It's not the first time i history that people in power sees themself as goods. That's why it's important to go to school and pay attention during history lessions..

  • Warning to rich oppressors!!!

    James Chapter 5

    "You have hoarded wealth in the last days. Look! The wages you failed to pay the workmen..."

    "You have lived on earth in luxury and self-indulgence."

    "You have condemned and murdered innocent me, who were not opposing you."

    Warning! There is a mighty judgement coming!

  • dude i love you man. I wish i could just sit with you and listen to all your views on things. It's just so reasonable and no nonsense. Work for the executive man!

  • Its the federal reserve system. The bankers make us pay for all this via inflation. We are in an endless spiral of debt.

  • greed is good

    mindless replication is better

    cancer is best

  • Cenk is this guy that said this accepting federal bailout money? If not Im wondering what your babbling about?

  • Grreed is good.

    Selfishness is good.

    Not helping others in need is good.

    Message brought to you by your GOP Representative...who claims to be a Christian.

  • Seriously, bonuses for bailed out failures? Disgusting pigs snouts in the trough. Slimy weasels.

  • The original point of the 'greed is good' speech in 'Wall Street' was that the greed of a few traders and bankers was ultimately to the benefit of all the shareholders.

    But what we've seen is that the greedy elite on Wall Street have simply ran the companies into the ground and bled them dry.

    This is not how capitalism is supposed to work.

  • Its rather simple: They win, they get rich.

    They lose, you lose your job and your taxes pay to make them rich.

    No risk or hard work involved of any kind. Once you are a member of the elites, you never ever fail, cause John Schmoe pays for you, no matter what, allways.

    Its just another form of feudalism. Time the people understand that.

  • spot on observation. If anyone else fails they do everything they can to send you to the bottom and keep you there which sets a dangerous precedent for said individual with the choices they will have to make from that point on.

  • 0:52 - 0:57

    Cenk, you always manage to crack me up. XD

  • We shouldn't get rid of bonusses. The author of the WSJ article is right. Employees do perform much better under promise of reward. The problem isn't that bonusses exist so much as that they are going to ppl who are abject failures for their companies. You have to earn bonusses. You don't get bonusses simply for being in that occupation. Your annual salary takes care of that. And the manitude of these bonusses is a problem too. When one person can get tens or hundreds of millions, it's nuts.

  • I'd also add that no company should be giving anyone ANY bonusses if said company is getting bailout money from taxpayers. Do well enough, and these companies won't need to take bailout cash anymore. After that, they can do what they want.

  • Wrong, Sir! You have to earn salary, and only when and if your company has posted a profit, you may get a portion of it in the form of a bonus. When the company posts a profit, not before that!

  • Eh? I never implied ppl didn't have to earn their salary nor did I suggest they should get bonusses when their business is floundering. Try to read my comment before replying please. And you get salary for doing your job. Even if you are bad at it. If the ppl who control the funding/hiring don't like your efforts, you should be fired and the salary ceases. But that is entirely their decision...unless it is the tax payers who now hold controlling stake in the company.

  • You know who is under tremendous fast paced pressure with risk? Soldiers.

  • Good point, foley. Soldiers don't get performance based bonuses from taxpayer dollars, no matter how heroic they are.

    Bonuses are fine, so long as the company giving them isn't begging taxpayers to foot the bill.

  • no they have to be justified even if tax payers arent paying, lack of regulations is why the economy is in trouble

  • It's easy to justify if taxpayers aren't paying. If the guys getting bonuses actually made a lot of money for the company, the company has every right to give them perks for a job well done in order to hold onto good talent.

    The problem arises when the company is failing so badly that it has to get taxpayer money to stay afloat so that the economy doesn't collapse. In that case, the company can't afford to give bonuses to anyone and should make sure that the taxpayers are the ones benefiting.

  • ha totally right foley! If soldiers fuck up they DIE, not get more money and a chance to fuck up again.

  • because anyone can be a soldier, few can be a business executive

  • few are born in that entitlement, but their special skills are vapor. there's retard CEOs all the time.

  • true about retard CEOs but many are very smart, just they succomed to greed and made fools of themselves. but almost every partner or executive in the failing banks have been fired or forced to resign. they wont get a chance to fail again

  • sadly USA3333 your WRONG! these ratbags who cocked it all up for everyone have NOT been sacked! there laughing there arses off and STILL raking in the millions in unearned bonus's! they WILL fuck up again and STILL end up smelling of roses!

  • 100% correct, don't ever forget - whenever there's a crash, the ONLY people who do well are the bankers, check history

  • Fortunately thats just plain wrong usa333.

    Give anyone the correct education and they could be a business executive.

  • wrong! you cant just giv someone an education, they need 2 work for it and eran the education themselves.

    and my dad is a partner at a bank. he says that there are dozens of ppl who are smarter than him that dont even earn half of his pay. it takes much more than education, it takes luck, leadership, cooperation, etc

  • Ok your right about leadership- not everyone has that.

    But placed in the right surroundings anyone can have luck and cooperation etc.

  • yes anyone can have luck, but few actually get it.

    but back to my original point, education is not everything. the recent meltdown shows how very very smart people who made it to the top can screw up because they dont have values. they succumbed to greed

  • Bingo!

  • Wow Wall street is really fucking the american taxpayers in the ass. This totally change my mind on Americans. I thought Americans didn´t take any shit way shape or form. Pathetic.

  • Its time we go back to the good old days where bankers /stock brokers in wall street jump off the buildings when they lost their clients money. I like to see some of these CEOs start jumping of those wall street skyscrappers!

  • buildings are taller, ceo's are skeered

  • Cenk, this is all too complicated for us to understand. We should just pay them their bonuses and let them fix everything.

  • What is this "take risks"? OW, my head! Quick! Don't watch them lest the knowledge of their gambling hurt our tiny monkey brains more. We need to go back to hammering square pegs into round holes.

  • An 8 billion bailout after paying 20 billion in bonuses?

    Translation, ... they just robbed the banks from the inside, and now want to rob the countries treasury.

  • a company works highly inefficiently, but salaries are paid anyways. well, reminds me somehow of good old East Germany aka GDR.

    the statement "Greed is Good" is basically reflecting the zeitgeist of the last decade.

  • The Boys on the Trading Floor were celebrating

    Elliot Spitzer getting busted for a Hard on! And I said they don't steal no where near the money Grosso stole. They are exactly like the .boys that fought for slavery. They couldn't own a slave and wouldn't know what to do with one.

    If a Slaver or his Sons were in the Fields, They were way in the Rear, and were on horseback.

    Ready to Flee when the cannon fodder from the trading floor were all down.

    The Slavers and CEO,s had something to loose!

  • Wow, greed is good. It must be comforting to the third world countries whose economies are purposely destroyed, and then given sweat shop jobs to survive.

  • how can you believe wall street journal? its owned by murdoch,

  • that cunt is just a fucking contemptuous piece of shit who doesn't produce anything

    if only the society could function without those fucking parasite lawyers, economists, politicians, etc ...

  • What bothers me more about the guys that write these articles is the unshakable feeling that for them all this is a game.

    They are not evilly thinking of how to take other people's money, or ruining their lives with this recession. It's, in a way, worse: they simply fail to consider other people.

    They are brain damaged, and they dealt with it by making it a philosophy.

  • also what all these ceo's and their boards tend to forget too is without the little people running your company...there is no company...

  • obviously the person at the wall street journal that wrote this article need to be smacked in the head several times with something blunt and heavy.

    this person obviously does not realize you don't get bonusus for making the company FAIL! nor do you get to give exec big bonusus with our money.

    nuff said.

  • I deserve a million dollar bonus because my job is sophisticated. I translate ancient Sumerian poetry into Attic Greek and then program robots to recite the poetry to each other via radio signals as they orbit the moon. Where's my fuckin money?

  • :o awesome job.

  • Don't tell the motherfuckers capped your bonus!

  • It's time to start sending some people into exile

  • anyone replying to this is a dumbface.

  • I have a dumb face but that don't make me dumb. My dumb brain does. And I can't help it that I'm dumb. Somebody has to be dumb and just cuz that's me don't mean you gotta poke fun smarty smart. If it weren't for dumb people there would only be smart people and everyone would be average.

  • Impossible, no population can be entirely equal, even amongst clones there are subtle differences which would result in a diverse population. The only exception being copies of electronic data and programs, which are copies of themselves, but then again, can a font be said to be dumb?

  • Well if there are subtle differences then some people would be dumber than average and others would be smarter than average. That supports my point. If not for the dumb people there can not be smart people.

  • Yes, I'm just saying that someone will always be less intelligent than someone else, so your point is moot.

  • i live in texas and my congress man is in on it, so yeah

  • Interesting...

    So it was privately owned in the 70's, until it went public so now it's not the companys money, its other peoples money.

    Sounds interesting, do some research on this.

    Cheers Cenk

  • its such an indefensible position that even talking about it is a little defeat, there is no plausible reason for these extreme manager salaries, there is no plausible reason why a society should tolerate excessive wealth, the profit margin for luxury goods is much higher thus less actual work (and value) is created for the money..

  • Perhaps its time for the people who are getting screwed over and over again to also let their "animal spirits" take over for a while.

    They want incentives? Who about placing a guillotine on every town square? Maybe that would induce some motivation to stop raping society.

  • I find it charming u think obama is different, lol, he is wallstreets darling, lol american is in for a rough ride, this time next year the US dollar will be nothing... trust me on that...

  • i fart in your mouth.

  • We'll see how he does. I have doubts myself.

  • You know who deserves high bonuses? Air traffic control.

  • Your absolutely right Cenk, we should have government manage all these companies and we need the fairness doctrine enacted again in the media.

  • Don't give a dime to Wall Street, spend it on crappy "green" jobs created by the federal government.

  • This just proves the asses on Wall Street are all on crack

  • Anyone who makes such a big deal out of greed, in and of itself, should watch Milton Friedman talking about it with Phil Donahue. The Soviet and Communist central planners weren't all that ungreedy, either. Current Marxist systems are every bit as greedy as capitalism; it's just a difference of who is greedy. Corporations and business owners are the greedy ones in capitalism; in Communist states the greedy one is the state, taxing them to death and owning industry and whatnot.

  • The state represents the people IF it is actually done in Marxism. The Soviet Union was complete fail on that point after Stalin. Anyone can see the reformist pro-capitalist changes that came in after him.

  • yeah, fortunatly russia has seen the light and found its salvation in the new all out capitalism, no country has ever lost as much average lifespan as russia in the first years of its glorious new capitalism..

    ive lived in a communist state, there is a case to be made against it, its not "greed as well" but really the lack of tolerance towards individual not mainly "greed" but ambition in general, it really does numb society

  • The point is, you should not support the greed of others with your money. Pay for you won greed! :)

  • That's a good point, too, dg.

  • I wouldn't go near Milton Friedman with a 10-foot pole. That man colluded with Pinochet on Pinochet's economic policies (which subsequently failed), and anyone who is involved with a murderous dictator like that should not get the time of day.

  • was that last clip reverend wright?

  • yes

  • simple and effective Cenk. Good work.

  • i agree

  • Sometimes I am awed by the delusions some corporations live in ...is there hallucinates in the water? As well, to compete in a global and tech advanced world where conscious capitalism and people calling for authentic behavior, how can they even warrant these bonuses? Time to wake up or expect the fall to continue regardless of bailouts...who are the people asking for handouts now? Not the poor but the rich...so much for the Social Darwinism that republicans embrace.

  • Throughout history every great culture as had to contend with a privilidged minority who contribute virtually nothing but who are favored above all others, and who drain the benefits and resources while the greater populace is left with their scraps. This class is more powerful than the actual leaders of the nations, and have always been in the way of improving the societies and of making them more efficient and workable.

  • everthing in moderation including greed

  • greed is a selfish emotion, people that lust after money, gems, what ever they have nothing but there selfish ego in mind that is a evil way of thinking.

    people don't see companies as living things but they are! they feed on profit and corrupt the people working for them cause all they think of is how to keep profits flowing in to feed this beast, and they will do anything even sell out there fellow man to keep this thing alive, now that is sad

  • Point: the greedy bastards on Wall Street will continue to work no matter how little you pay them, but the government is too pussified to try to punish them.

  • Americana Capitalism = Greed.

  • capitalism in itself is based on greed pretty much lol

  • Wall Street Journal = More Murdock Propaganda

  • Greed is loathsome.

  • Greed is good. It's why the United States is the richest country today. Everybody acts in their best interest - don't try to go against it.

    Greed is why entrepreneurs start businesses.

  • "Greed is why entrepreneurs start *shitty, worthless* businesses."

  • not very up to date on current events are you

  • What a little weeny faggot, whoever wrote that article.

  • Yep, Greed is good - especially when you die and you can't take it with you.

  • Some how I hear Ayn Rand's virtue of selfishness bullshit.

  • Then you know nothing about Rand.

  • What makes you think that? You don't know me or how many books and ideas I've studied. You know nothing about me. Think before you type, you will come off less ignorant that way.

  • I am sorry that I offended you and I meant nothing personal. The reason I said what I said is that one of the basic underpinnings of Rand's approach is the differentiation between selfishness and spite. If you don't understand that differentiation that Rand made you will misinterpret most of the rest of her writing. The author of the article in question was arguing for what Rand has called spite; counter to Rand' idea of virtue. I should not have been so short with you and I am sorry.

  • I'm no fan of Ayn Rand, but I think that if she got her way these guys would've been kicked out a long time ago.

    No one would have to put them there.They just failed.

  • Here's a question: is it possible to make a reasonable profit in stock brokerage, commodity trading or banking without lying, cheating and stealing? In other words, is there no honest business model that actually works? I haven't seen one, but if there is it should be imposed by force on the lying, cheating, stealing companies.

  • Wall street and our Government act like the Monkeys they descended from, always Fighting for more Bananas.

  • The Wall Street Journal opinion page is always a fucking joke, I enjoy reading it for the entertainment value.

    The rest of the newspaper, however, use to have some very worthwile reporting. I don't know if it's still the case because I stopped reading it after Rupert Murdoch took it over.

  • Really? Enjoy it? I fucking rage when I read it. My doctor recomends against it.

  • I love you man.

  • lets just hang theses bastards for treason

  • lol, you fail dude

  • hello

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