Anatomy of casino capitalism Pt.2

Jane D'Arista: Banks' wild speculation led to the crash - it's happening again

Category:

Nonprofits & Activism

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• therealnews
• real
• news
• media
• politics
• US
• banks
• economy
• crash
• Jane D'Arista
• capitalism

[GetMeThere1]

This lady is GREAT about clearly and lucidly stating FACTS and their direct implications. She's one of the best guests Paul Jay has interviewed.

[3CoolKats]

This lady needs to be in Washington, making policy.

[CapitalistHolocaust]

It's not Socialism, because it's not a redistribution of wealth from the rich to the poor, but the other way round. It's crony or State Capitalism.

Don't conflate the state OR taxation with Socialism. They both existed long before Socialism.

Just because there are theories of pure free market capitalism in existence, it doesn't mean that any other form isn't Capitalism. That's like saying the USSR wasn't Communism because the state didn't quite fit the pure anarcho-communist model.

[Xproletariatx]

@kmarinas86 no casino CAPITALISM!

[DanMorin007]

The banking system in the US is not capitalist, but socialism / fascism. Have you heard of bailouts.  A bailout is using the taxpayers money to give welfare to the billionaires - it is NOT the free market, nor capitalism.

[macdaddi88]

i gotta thank the real news b/c i learned MORE after watching just 2 parts of this than i have in yrs....and i HAVE traded stox, forex, etc on a small scale...so i thought i knew the basics...i really didnt....? ! lol

[danielshacalis]

The system not only goes against socialist ideas but also goes against capitalist ideas. So, you have a contradiction of which the system leaves itself.

[tatamtatam1]

well sure. but for me that only seems to imply that resistance also has to be organised globally and not (just) on a national level. just like the power structure of the current economic system is global.

surely a long way to go, but then i don't see any other way out of this mess.

[kmarinas86]

"unless they and their entire economic system is overthrown."

The "entire economic system" is a global economic system. If we went back to the limits prescribed by Jane D'Arista only up to the national level, American banks would just relocate overseas, leaving Americans behind to suffer. If some countries fail to cooperate in creating a new world economic system after the world economy topples over, such regulations will fall apart.

[kmarinas86]

This economy was wrecked by "casino corporatism".

[rollinhammer]

In this system we can transfer vast sums of capital across the globe. No way can we go back to a system dependant on the availability of minerals.

[brainstewn]

Great story except for the title. Captialism in its genuine form is not devoid of regulation but rather embraces regulation like a car enjoys brakes. Corporatism is the collusion between mega-business or large corporations and government law makers and bureaucrats; all too often mis-labeled capitalism. We are the stewards of our country, not the alleged leaders we sheepishly elect.