Signal 94 blog writes excerpts from Wall Street Watch report entitled “Sold Out: How Wall Street and Washington Betrayed America.”
I am cross posting the Signal 94 post because I like the interjections between excerpts.
I have been real big on not blaming President Bush as President Obama has been real big on blaming President Bush for the current financial difficulty.
This report shows there is a lot of blame to go around for Presidents, Congress, Government Regulators (or lack thereof) and Wall Street. The report focuses on Wall Street utilizing billions of dollars connected to lobbying to essentially buy the rules which Wall Street desired in its greed to make money. Unfortunately Wall Street greed messed with supply and demand creating an illusory supply (bad paper loans) to create an exploitable demand.
Is this a black eye for Capitalism? Is it a sunrise for Socialism?
The Left is attempting to blame Capitalism run amok to get the sun to shine bright on Socialism and Socialistic government managed control of individuals in America.
Market Libertarianism aside, Capitalism will still work better than Socialism; however watchful rules are needed not Government management of Capitalistic corporations. The Capitalism allows business to thrive. The rules protect the economy challenged from making bad decisions.
A Socialistic Government will micromanage For Profit businesses to become either out of business or owned by the Government so the economy does not fail yet the economy will not grow.
Here is Signal 94’s post.
JRH 3/5/09
I am cross posting the Signal 94 post because I like the interjections between excerpts.
I have been real big on not blaming President Bush as President Obama has been real big on blaming President Bush for the current financial difficulty.
This report shows there is a lot of blame to go around for Presidents, Congress, Government Regulators (or lack thereof) and Wall Street. The report focuses on Wall Street utilizing billions of dollars connected to lobbying to essentially buy the rules which Wall Street desired in its greed to make money. Unfortunately Wall Street greed messed with supply and demand creating an illusory supply (bad paper loans) to create an exploitable demand.
Is this a black eye for Capitalism? Is it a sunrise for Socialism?
The Left is attempting to blame Capitalism run amok to get the sun to shine bright on Socialism and Socialistic government managed control of individuals in America.
Market Libertarianism aside, Capitalism will still work better than Socialism; however watchful rules are needed not Government management of Capitalistic corporations. The Capitalism allows business to thrive. The rules protect the economy challenged from making bad decisions.
A Socialistic Government will micromanage For Profit businesses to become either out of business or owned by the Government so the economy does not fail yet the economy will not grow.
Here is Signal 94’s post.
JRH 3/5/09
Posts
No comments:
Post a Comment