Nobel Prize-winning economist Joseph Stiglitz: “We have too many regulations stopping democracy and not enough regulations stopping Wall Street from misbehaving... we are bearing the cost of its misdeeds. There’s a system where we’ve socialized losses and privatized gains. That’s not capitalism.”
6 comments:
I am a bigger fan of Hugo Stiglitz
If you think Capitalism stinks just wait till you try Socialism...
Do you think Capitalism is corrupt just wait till you try "sociolismo"...
If you think Capitalism is unfair can't wait till you try socialism...
The grass always looks greener from the other side but trust me it isn't.
It has not worked anywhere in our society so far so why should we be so naive as to think it would work here...all u have to do is look 90 miles away...
This mess at Wall Street is a good indication of how little we know of why we are in the economic mess we find ourselves.
Anyone who believes it is because of Wall Street and the banks had better look harder and deeper at what is staring them in the face.
As the previous Anon said, if its socialism you want, just talk to those who have tried it and quickly gave it up when they realized they had no voice in anything about their personal existance.
The housing breakdown? Look at Freddie and Fannie who forced loans from banks by the powers that be on Washington's Capitol Hill, Barney Frank and his counterparft in the Senate whose name escapes me. Remember? He was the one who accepted a sweetheart deal from Countrywide Mortgage and quit the Senate rather than go to jail. These banks were literally forced to make those costic loans or face the wrath of Congress. You know who they are. I am by no means an expert on this issue, but I am not dumb either. What I do know is that when I force myself to go to school and work like a dog to get a good job and make it in a society that offers me every opportunity I could ever need, I get very disillusioned when I am looked upon as though I am garbage, taking from the poor.
These protesters in New York have destroyed the beautiful park they took over leaving it like a sewer. Replacing landscaping and the mess they leave behind will cost the taxpayers tons of money and we dare to call them simply "protesters?" There are drugs everywhere and the number of arrests increase daily in every area they occupy. Many are paid to protest, from what I am hearing up to $600.00 a day and when a woman was asked if she would work for a large corporation, her stupid response was, "No Way!" Who are these people anyway? Many don't even know why they are there.
I look around at our own community at children dropping out of schools, walking the streets with their pants hanging down beyond decency and sooner or later the hard working people are called upon to give to them when they should have been prepariung for adulthood and the stark realities of what it brings. I am not a rich person by any stretch of the imagination, and I have never strayed away from helping the needy. But these protesters, who are being praised by many on Capitol Hill are in for a rude awakening. People are sick and tired of giving and giving and not seeing any improvement whatsoever in the lives of many.
I cannot even begin to tell you the years I have spent volunteering in low-income neighborhoods. I have gone into schools and churches to talk to youngsters about what life is all about and many times am rediculed. Well, guess what? America is no longer the gravy train many think it is. To succeed you have to go to school and work hard. You have to be disciplined and follow the rules of society. Nothing else will work.
So stop coddling these so-called protesters and give them a good dose of what life is all about.
And one more thing. Capitalism will trump Socialism every time.
"Be very careful of what you wish for because you might get it!"
Last Anon - Could not have said it better myself!
These last several comments are not understanding the reality of more than 15% of our country not employed. People are frustrated with a system that seems to reward a few at the expense of the rest.
The fake talking points of Barney Frank doesn't take into account the Dick Armey legislation allowing these toxic mortgage obligations, backed by false credit ratings, and regulators not doing their jobs. The people bailed out the banks and insurance company responsible for the economic meltdown. When the Tea Party held protests, somehow, that is ok, but if others protest, it is not?
Get over the right wing talking points and understand that millions of people are out of work and want jobs and to be able to contribute to society. Are there always a few 'bad apples' in any group, of course, but don't be blinded by the actions of a minority.
Well said Anon above.
If we put aside the name calling and broad-stroke labeling that creates so much division in this country, we will find we have more Common Ground then we are led to believe by the MSM.
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