We are aware that Donald Trump does not take advice from anyone in his cabinet or inner circle. But when it comes to sanctions, tariffs and red lines, it appears he takes his cues from Russian president Vladimir Putin, Fox & Friends and the voices in his head. When Trump tweeted that he was going …
Apr 25 2018
Jun 24 2013
Commentary: Markets need morals and regulators need muscle
LOS ANGELES (MarketWatch) – “Is the entire stock market (and the system it supports) completely corrupted?”
When that question appeared in a recent MarketWatch poll, 76% of the nearly 1,400 respondents agreed with: “Yes, it’s legalized theft.”
Legalized theft? Like the bribes Mexican police demand or the taxes dictators seize to build villas? Investors think the stock market is theft?
And the answer given is that the investors are surely right in the headline article in a business site that obviously leans right.
Kos and Ed [Schulze] and most anyone that has even a pretense to liberal credentials says we gotta go along with the most egregious corruption and a rightwing business source says that is wrong?
Has the world turned upside down again?
Of course it’s nonsensical to expect businesses in the hunt for money to place a high priority on morality except as a business tactic. It is akin to asking coyotes to stop eating sheep.
The real problem is the like of Kos and Ed seeking love in all the wrong places and, in a different vein, the same could be said of Obama and Pelosi. Even the wingers are scandalized.
Oct 22 2007
Stirling Newberry coined a brilliant phrase a few years ago: “A bubble is the monetization of stupidity.” Looking at the growing evidence of a financial meltdown in the US economy, I would argue for a broader assertion: recent American prosperity has been based on the monetization of dishonesty. Ever since the savings and loan scandal of the Reagan years, large-scale financial corruption seems to have become endemic to the US economy. This diary lists some of the evidence and addresses the unpleasant conclusions.