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Forum Post: A SENATOR whose actions support the Occupy movement's mission AND how deregulation caused the 2008 financial crisis.

Posted 2 years ago on Feb. 5, 2012, 11:29 a.m. EST by therising (6643)
This content is user submitted and not an official statement

"Middleaged" just posted some great info. There are TWO SEPARATE PARTS:

A. Sherman anti-trust act info

B. Deregulation obsession

PART A: SHERMAN ANTI-TRUST ACT INFO (don't miss the senator's quote at the bottom of this section.

From Middlaged post: "Here below are your Individual Rights (just for citizens not for states or for corporations), but they don't prevent oligopilies which were later addressed in with the "The Sherman Act of 1890" or the "US AntiTrust Laws".

1) Freedom of Speech, Press, Religion and Petition

2) Right to keep and bear arms

3) Conditions for quarters of soldiers

4) Right of search and seizure regulated

5) Provisons concerning prosecution

6)Right to a speedy trial, witnesses, etc.

7)Right to a trial by jury

8) Excessive bail, cruel punishment

9) Rule of construction of Constitution

10) Rights of the States under Constitution

From Wikipedia: As Senator John Sherman put it, "If we will not endure a king as a political power we should not endure a king over the production, transportation, and sale of any of the necessaries of life." Congress passed the Sherman Antitrust Act almost unanimously in 1890, and it remains the core of antitrust policy. The Act makes it illegal to try to restrain trade or to form a monopoly. It gives the Justice Department the mandate to go to federal court for orders to stop illegal behavior or to impose remedies.[20

http://en.wikipedia.org/wiki/United_States_antitrust_law

PART B: DERGULATION OBSESSION

From "Middleaged" post:

Wikipedia Quote on Think Tanks Influence: Deregulation gained momentum in the 1970s, influenced by research at the University of Chicago and the theories of Ludwig von Mises, Friedrich von Hayek, and Milton Friedman, among others.[citation needed] Two leading 'think tanks' in Washington, the Brookings Institution and the American Enterprise Institute, were active in holding seminars and publishing studies advocating deregulatory initiatives throughout the 1970s and 1980s.[citation needed] Alfred E. Kahn played an unusual role in both publishing as an academic and participating in the Carter Administration's efforts to deregulate transportation. Wikipedia Quote on Regulatory Capture: One problem that encouraged deregulation was the way in which the regulated industries often controlled the government regulatory agencies, using them to serve the industries' interests. Even where regulatory bodies started out functioning independently, a process known as regulatory capture often saw industry interests come to dominate those of the consumer. A similar pattern has been observed with the deregulation process itself, often effectively controlled by the regulated industries through lobbying the legislative process. Such political forces, however, exist in many other forms for other special interest groups. http://en.wikipedia.org/wiki/Deregulation#History_of_regulation

7 Comments

7 Comments


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[-] 2 points by BradB (2693) from Washington, DC 2 years ago

good post

[-] 2 points by therising (6643) 2 years ago

Feb 29th looks like it's going to be huge.

[-] 2 points by therising (6643) 2 years ago

"Middleaged" is the one who posted. I am just spreading the word. Middleaged posts good stuff.

[-] 2 points by MaryS (678) 2 years ago

Anyone who is for deregulation should watch this "American Experience" documentary on hulu. It will make you think twice. http://www.hulu.com/watch/245485/american-experience-triangle-fire

[-] 1 points by therising (6643) 2 years ago

Thanks for the link

[-] 2 points by MaryS (678) 2 years ago

You're welcome. It's a disturbing thing to watch but as they say a picture is worth a thousand words. There are some good posts on here today but I'm afraid they're lost amid the super bowl spam...

[-] 2 points by therising (6643) 2 years ago

They can spam all the want. This message Occupy movement is spreading will continue to spread. Nothing so powerful as an idea whose time has come. We're not stopping until the money is out of politics.

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