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.
@jackiechan511 capitalism has its flaws but the best we got, capitalism allows me to live better than my forefathers providing i work hard, socialism communism is no better than the feudal system....
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.
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.
@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 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.
@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.
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.
@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.
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?!!!!!!!!!!
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Rabinowitz from Wall Street journal - when will you write an article about jewish lies about holocaust ? About jewish HELP- DENIERS ? During holocaust - according to historians Gunnar Paulsson and Teresa Prekerowa ( JEW!)- about 360 000 Poles were helping Jews IN SPITE OF DEATH PENALTY , but Jews admit now only 1 % ( Yes- 1% !) of Polish help ! During WWII Jews begged Poles for help but now they admit only 1% of help - in Jad Vashem there are only 6 000 Polish Righteous helping Jews during WWII
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.
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.
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?
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.
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.
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.
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..
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!
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.
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.
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.
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.
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!
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
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
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!
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.
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.
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.
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.
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?
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.
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..
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...
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
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.
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.
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.
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.
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.
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.
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.
jackiechan511 1 month ago
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@jackiechan511 capitalism has its flaws but the best we got, capitalism allows me to live better than my forefathers providing i work hard, socialism communism is no better than the feudal system....
winstonchurchil1945 1 month ago
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.
TrekToTrango 2 months ago
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.
lpr5269 3 months ago
Cenk sucks at his job (I mean just look at the weak 11K views this video has) and yet he still gets paid.
m015094 3 months ago
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Fuck this fat piece of shit.
14534 5 months ago
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.
CrazyBrah21 5 months ago
Comment removed
Ulrna 5 months ago
@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
Ulrna 5 months ago
Communist fucks
Transkar 5 months ago
This is an editorial, and does not reflect the view of the wall street journal, please accurately title your videos
SublimeSiGGs 6 months ago
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.
truevoice08 8 months ago 3
greed is good and works and we must keep it that way , dumb communists will never learn
beefdog 10 months ago
@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.
milossilesipka89 8 months ago
@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.
sinistar99 1 year ago
Economics reveal that Wall Street bonus are necessary. Study some economics and stop acting like a dumbass
Moneybags916 1 year ago
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
Engineer245 1 year ago
one bonus and the men would live a luxorious lives without working a hour the rest of their lives, is it about money anymore?
Darusdei 1 year ago
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!!
EquestrianEqualsLOVE 1 year ago
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!
MACKATTACK1970 1 year ago
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.
batasoohawki 1 year ago
The stupid Turk has it wrong again. It is the politicians he worships that are greedy. Politicians are the most greedy people on earth.
stater68 1 year ago
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 1 year ago
@TimeWarp66 I think he assumes theres are market forces that stop this kind of wealth destruction.
zxcvbnmjhgfdsa1 1 year ago
@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.
TimeWarp66 1 year ago
Comment removed
rsll1986 1 year ago
@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.
zxcvbnmjhgfdsa1 1 year ago
the system is a criminal ...
giantgreenbuddy 2 years ago
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?!!!!!!!!!!
IndependentEsse 2 years ago 3
lol...."The system has become more complex"
WRONG
The system has become more CORRUPT
resourcebasedeconomY 2 years ago 16
@resourcebasedeconomY The system has become more complex on purpose. It is pure thievery under a guise of jargon.
spiderpig85 1 year ago
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Rabinowitz from Wall Street journal - when will you write an article about jewish lies about holocaust ? About jewish HELP- DENIERS ? During holocaust - according to historians Gunnar Paulsson and Teresa Prekerowa ( JEW!)- about 360 000 Poles were helping Jews IN SPITE OF DEATH PENALTY , but Jews admit now only 1 % ( Yes- 1% !) of Polish help ! During WWII Jews begged Poles for help but now they admit only 1% of help - in Jad Vashem there are only 6 000 Polish Righteous helping Jews during WWII
SANARIA7 2 years ago
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.
sk8bow 2 years ago 3
well said...first we need to meet somehow privately though.
giantgreenbuddy 2 years ago
If no one amongst us is capable of governing ourselves, then who amongst us is capable of governing others?
vforusa777 2 years ago 4
Hogwash. We are capable; the problem is no one is being held accountable for their actions.
vsbcompany 2 years ago 4
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.
sk8bow 2 years ago 3
All Wall Streeters are living Ayn Rand's fantasy. They refuse to accept that Rand's world is a total nightmare.
geezzerboy 2 years ago 3
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.
GrownupPhan 2 years ago
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?
PianoSoulos 2 years ago
We should not have given them the money, that is what the problem is.
brockhailey 2 years ago
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.
0Neish0 2 years ago
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
usamaj 2 years ago
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.
halette20001 2 years ago 3
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.
dlmaniac 2 years ago
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.
raney150 2 years ago
Oh, yeah, they're really the best and the brightest--sarcasm.
stargleamer 2 years ago 2
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.
BobfromSydney 3 years ago 9
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.
obscurelystygian 2 years ago
The whole greed is good thing reminds me of that John Stossel bullshit.
ThousandSunAnger 3 years ago 2
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.
GrownupPhan 2 years ago
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All Young Turks fans....Listen to my New Young Turks Song on my page....Let me know if you how you like it!!!! TYT
or here: watch?v=qh3gfqHM5Mo
mrlukehtown 3 years ago
I suddenly want a Young Turks decoder ring...
Capng123 3 years ago 4
hey Cenk. it might not be too complicated for you, but for a lot of the idiot backwater people, it IS
hjk798 3 years ago 2
Greed is definitely good... for a greed based market system. Is greed considered good for human society though?
Shisho2k 3 years ago
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yep!
suck my fuckin' dick!!!
MojoJuana 3 years ago
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..
freshhug 3 years ago
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!
kimintexas 3 years ago
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!
Gunnar00 3 years ago
Its the federal reserve system. The bankers make us pay for all this via inflation. We are in an endless spiral of debt.
iluvwine13 3 years ago
greed is good
mindless replication is better
cancer is best
menthol5 3 years ago
Cenk is this guy that said this accepting federal bailout money? If not Im wondering what your babbling about?
flyingtorpedo 3 years ago
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.
DillonX 3 years ago
Seriously, bonuses for bailed out failures? Disgusting pigs snouts in the trough. Slimy weasels.
shadowcnidarian 3 years ago
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.
rickelmonoggin 3 years ago 2
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.
13otany13ay 3 years ago 2
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.
merco80 3 years ago
0:52 - 0:57
Cenk, you always manage to crack me up. XD
gcalvanetten 3 years ago
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.
TavishHill 3 years ago 3
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.
TavishHill 3 years ago 3
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!
chradev 3 years ago
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.
TavishHill 3 years ago
You know who is under tremendous fast paced pressure with risk? Soldiers.
foley15136 3 years ago 4
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.
EvoBiologist 3 years ago
no they have to be justified even if tax payers arent paying, lack of regulations is why the economy is in trouble
fsem10 3 years ago
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.
EvoBiologist 3 years ago 2
ha totally right foley! If soldiers fuck up they DIE, not get more money and a chance to fuck up again.
YearoftheKlown 3 years ago
because anyone can be a soldier, few can be a business executive
USA3333 3 years ago
few are born in that entitlement, but their special skills are vapor. there's retard CEOs all the time.
shadowcnidarian 3 years ago
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
USA3333 3 years ago
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!
grahamkeithtodd 3 years ago 3
100% correct, don't ever forget - whenever there's a crash, the ONLY people who do well are the bankers, check history
afrosaxxon 3 years ago
Fortunately thats just plain wrong usa333.
Give anyone the correct education and they could be a business executive.
YearoftheKlown 3 years ago
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
USA3333 3 years ago
Ok your right about leadership- not everyone has that.
But placed in the right surroundings anyone can have luck and cooperation etc.
YearoftheKlown 3 years ago
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
USA3333 3 years ago
Bingo!
merco80 3 years ago
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.
zzzbbb123456 3 years ago 2
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!
john6echo 3 years ago 2
buildings are taller, ceo's are skeered
mikemikemofo 3 years ago
Cenk, this is all too complicated for us to understand. We should just pay them their bonuses and let them fix everything.
Richardgwm 3 years ago
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.
AbsolutionDouble0 3 years ago
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.
PlayT0E 3 years ago
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.
alano74 3 years ago
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!
jor99912 3 years ago
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.
Dradeeus 3 years ago 3
how can you believe wall street journal? its owned by murdoch,
bustosricky 3 years ago 3
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 ...
semiliteratedgod 3 years ago 2
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.
dgferreira 3 years ago 2
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...
hellshade2 3 years ago
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.
hellshade2 3 years ago 2
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?
p12psicop 3 years ago
:o awesome job.
grawk1 3 years ago
Don't tell the motherfuckers capped your bonus!
dgferreira 3 years ago
It's time to start sending some people into exile
docotis89 3 years ago
anyone replying to this is a dumbface.
matthlowder 3 years ago
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.
p12psicop 3 years ago
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?
AbsolutionDouble0 3 years ago
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.
p12psicop 3 years ago
Yes, I'm just saying that someone will always be less intelligent than someone else, so your point is moot.
AbsolutionDouble0 3 years ago
i live in texas and my congress man is in on it, so yeah
Oban2006 3 years ago
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
soularimus 3 years ago
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..
random0815 3 years ago
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.
Northern5tar 3 years ago
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...
Alexwozere 3 years ago
i fart in your mouth.
matthlowder 3 years ago
We'll see how he does. I have doubts myself.
dgferreira 3 years ago
You know who deserves high bonuses? Air traffic control.
pataphysician66 3 years ago
Your absolutely right Cenk, we should have government manage all these companies and we need the fairness doctrine enacted again in the media.
flyingtorpedo 3 years ago
Don't give a dime to Wall Street, spend it on crappy "green" jobs created by the federal government.
mattk311 3 years ago
This just proves the asses on Wall Street are all on crack
BigJoeKrash 3 years ago
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The Young Turds!
rgandalf 3 years ago
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.
whoo689 3 years ago
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.
RazorVrakking 3 years ago
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
random0815 3 years ago 2
The point is, you should not support the greed of others with your money. Pay for you won greed! :)
dgferreira 3 years ago
That's a good point, too, dg.
Pseudobadger 3 years ago
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.
technicschic 3 years ago
was that last clip reverend wright?
Unekwu89 3 years ago
yes
SwampAshHSS 3 years ago
simple and effective Cenk. Good work.
Chewy240284 3 years ago 4
i agree
CSIS25 3 years ago
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.
eaglesflite 3 years ago 4
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.
jfrsnjhnsn 3 years ago 9
everthing in moderation including greed
sinslin 3 years ago 3
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
demented669 3 years ago 2
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.
ProfMike789 3 years ago 4
Americana Capitalism = Greed.
sockpuppetsfromhell 3 years ago
capitalism in itself is based on greed pretty much lol
PyroAnarchist23 3 years ago 2
Wall Street Journal = More Murdock Propaganda
darealdjnutz 3 years ago 4
Greed is loathsome.
TAKENnameARGH 3 years ago
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you cannot hurt me
I'll resurrect every aborted baby and start an army
WKaliber1 3 years ago
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.
libertyplayground 3 years ago
"Greed is why entrepreneurs start *shitty, worthless* businesses."
VonSchnutze 3 years ago
not very up to date on current events are you
EricTheNihilist 3 years ago
What a little weeny faggot, whoever wrote that article.
cjwright79 3 years ago
Yep, Greed is good - especially when you die and you can't take it with you.
ValyTraveler 3 years ago 3
Some how I hear Ayn Rand's virtue of selfishness bullshit.
RazorVrakking 3 years ago
Then you know nothing about Rand.
Pseudobadger 3 years ago
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.
RazorVrakking 3 years ago
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.
Pseudobadger 3 years ago
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.
dgferreira 3 years ago
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.
MartinGist 3 years ago
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1st! Always will! Always will be!
rapperyz 3 years ago
Wall street and our Government act like the Monkeys they descended from, always Fighting for more Bananas.
SATANSbankers 3 years ago 2
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.
Franco187 3 years ago 2
Really? Enjoy it? I fucking rage when I read it. My doctor recomends against it.
RazorVrakking 3 years ago
I love you man.
BiskitFoo 3 years ago
lets just hang theses bastards for treason
Bleedingbox 3 years ago 9
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FUCKING FIRST AGAIN!
livingeasi 3 years ago
lol, you fail dude
CrocodileMonkey 3 years ago 6
hello
DontWorryBeHappy208 3 years ago