bobbyw24
10-26-2011, 04:26 AM
I suggest the following three as achievable goals that will have a lasting impact:
1. No more bailouts: Bring back real capitalism
2. End TBTF banks
3. Get Wall Street Money out of legislative process
Let’s look at each of these in turn:
1. No more bailouts/Bring Back Real Capitalism!
The United States was once a capitalist system. Companies lived and died on their own successes. “Corporate Welfare” – the term coined by Wisconsin senator William Proxmire – came into being in 1971 with the bailout of Lockheed Aircraft. Thus began a run of corporatism and bailouts of connected companies, not capitalism. Some firms, less than successful in a competitive marketplace, chose instead to suckle at the teat of the public trough. Innovation, execution and hard work were replaced with lobbying, crony capitalism and bailouts of failure. Of course, all paid for by taxpayers.
“Socialism for bankers, wrenching capitalism for the working stiff” is not a slogan you are likely to see on a bumper sticker anytime soon. But that’s wht the US had morphed into.
America needs to end this system of spoils. There should be no more bailouts, no more crony capitalism, no more government determined winners and losers. We simply cannot live in a society of privatized gains and socialized losses.
http://dailybail.com/storage/ows04.jpg?__SQUARESPACE_CACHEVERSION=1319601767513
2. End Too Big To Fail /Restore Competition
As George Shultz once said, “”If they’re too big to fail, make them smaller.”
The current economic approach of “Too Big to Fail” is itself a failure. It reduces economic competition, concentrates risk, and raises costs for consumers.
More
http://dailybail.com/home/barry-ritholtz-wall-street-protesters-must-occupy-congress-s.html
1. No more bailouts: Bring back real capitalism
2. End TBTF banks
3. Get Wall Street Money out of legislative process
Let’s look at each of these in turn:
1. No more bailouts/Bring Back Real Capitalism!
The United States was once a capitalist system. Companies lived and died on their own successes. “Corporate Welfare” – the term coined by Wisconsin senator William Proxmire – came into being in 1971 with the bailout of Lockheed Aircraft. Thus began a run of corporatism and bailouts of connected companies, not capitalism. Some firms, less than successful in a competitive marketplace, chose instead to suckle at the teat of the public trough. Innovation, execution and hard work were replaced with lobbying, crony capitalism and bailouts of failure. Of course, all paid for by taxpayers.
“Socialism for bankers, wrenching capitalism for the working stiff” is not a slogan you are likely to see on a bumper sticker anytime soon. But that’s wht the US had morphed into.
America needs to end this system of spoils. There should be no more bailouts, no more crony capitalism, no more government determined winners and losers. We simply cannot live in a society of privatized gains and socialized losses.
http://dailybail.com/storage/ows04.jpg?__SQUARESPACE_CACHEVERSION=1319601767513
2. End Too Big To Fail /Restore Competition
As George Shultz once said, “”If they’re too big to fail, make them smaller.”
The current economic approach of “Too Big to Fail” is itself a failure. It reduces economic competition, concentrates risk, and raises costs for consumers.
More
http://dailybail.com/home/barry-ritholtz-wall-street-protesters-must-occupy-congress-s.html