As I read the papers online this morning and reflected on recent remarks by bankers and big business, I was struck by how dependent big firms have become on state welfare.
This is not capitalism. How can it be when people expect their losses to be forced onto others? It’s corporatism, or state capitalism, and what needs removing from it is the corrupting influence of state power.
Welcome to the real world.
What you say is true, yet only the tip of the iceberg.
Please listen to this audio mp3 (both links should direct to same recording).
Alex Jones interview with Max Keiser after the ‘Fat Finger” incident of May 6th 2010.
Governments are held hostage to the banks.
You think you can change that?
Well so did JFK!
http://bit.ly/f2eBgv
http://bit.ly/etF2Ei
And what is perhaps most interesting is that those of political persuasion from across the spectrum would agree. Free market fundamentalists on the one hand and those who support Green party policies on the other can surely agree that major companies and the banks should not be profitable on the back of taxpayers.
Personally, I have always had an issue with private companies who bid for public sector contracts that they then fail to deliver on and yet still get to make obscene profits. Where the government has been at fault (PFI under all administrations), we should now call a halt to the practice.
Similarly, it is in poor taste at the moment to see banks making massive profits when they are only able to do so because they are backed, either explicitly or implicitly, by the taxpayer. If they wish to risk their own money only, then I have no problem with the rewards they get – but when they are risking my money and my livelihood, that is unacceptable.
Maybe when we are chastising the indolent poor, we can also consider chastising the indolent rich too?