Posted 2 years ago on Feb. 19, 2012, 7:24 p.m. EST by Middleaged
This content is user submitted and not an official statement
Moved from other String - Maybe a New Perspective
My experience in life brings up some questions.
1) Resisting Corruption. Smart and Educated US people have a lot of potential for success, but there is a danger of careerism. We all want to make money, we want status, we want respect from others, but money and corporations corrupt. If we keep in mind any of the following points can we escape the corrupting power of money?
a) US Constitution, b) Federalist Papers, c) Economic Influences of Slavery, taking of Native lands around the world, empire building, imperialism, (I know disease killed most US Natives, followed by others like killing buffalo, and probably lies about supposed crimes), d) Writings of Marx, e) Common sense handed down from US patriarchs, fathers, older culture (which I probably lack or don't know about).
2) Lawyers work against the Law not for the Law. Most constitutional Lawyers learn how to get around the constitution. Lawyers and Congressmen work on Loopholes to evade the law and evade the intent of the Law. Logical conclusion is to shut down congress and let administrative government workers take care of the day to day work.
3) Knowledge is in flux in time and in access. James Loewen's review of US Text books proves the weakness of our public school systems. TV can be a tool for learning, but often is a waste of time due to poor content. Without valuable internet content from good sources of integrity we would be lost.
4) Firewall every thing that is valuable. The Library of Congress, and the Congressional record are protected. Wouldn't it be great if we got simple tax law and simple rules on how government spent the money. We would want to firewall that to keep it from Lawyers and Lobbyist.
5) No one holds the key to understanding human motivation. We know that humans will commit fraud and will break the law. We know that we need Regulations to keep the accounting rules enforced. We know that money corrupts. We know that banking and finance seem to open people to corruption.
6) Security and Stability for our Economy and Food Sources. Suggest Economic Free Zones, Protective Tariffs, reduced regulations, taxes, and requirements to start businesses. We can encourage new manufacturing, but the government and business don't exist to create jobs. see some ideas I have written here:
7) Human Emotion and Human Gaming. The world operates in the open with money, bribery, politics, influence, offers of comfort, lobbying, campaign contributions, think tanks, PACs, many influence peddlers, comprehensive benefits packages, deferred wages, stock options, stock benefits, carried interest, arbitrage, airplane rides, vacations, conventions, dinners, and book deals. And you may not know that banks launder money for the drug cartels (link below).
This video is highly recommended from by lay Economists. Bill Black points out in Criminogenic Environments dishonest dealings drive honest dealings out of the market place. You have to give the whole think a listen and understand that even conservative economists see the environment becoming irrational and leading to "Looting and Fraud".
A close listen allow you to see his expertise, knowledge, and that he is not making any of this stuff up. I think it is worth passing around to a friend.
1) The SEC often settles or makes deals to accept a penalty from the bank with the biggest banks on charges of money laundering or other banking violations.
2) Too Big To Fail (TBTF) banks often repeat violations within 1-2 years for behavior they agreed in court to stop engaging in.
3) How can any little guy with a limited budget compete with big lobbyist and big corporations with Billions of Dollars?
4) End lobbying by Foreign Interests Today.
5) End Lobbying in Washington DC Tomorrow as the first step in Campaign Finance Reform.
William Black is a Professor of Law at UMKC. He is a former regulator in the banking industry and was key witness in defending individual taxpayers (FDIC Insurers) and individual rights against accounting fraud that characterized the Savings and Loan Banking Scandal of the 1980s.
1) Perverse Incentives 2) Dishonest deals Displace Honest Economic Activity 3) Characteristics of Criminal banking Activity 4) Lack of Prosecutions 5) Hope for Prosecutions
Click on any link. The first link is shorter.
Brief 17 minutes run down on current environment: http://www.youtube.com/watch?v=u9Qe0HlKKfw Teaching session 56 minutes: http://www.youtube.com/watch?feature=endscreen&NR=1&v=6YT84CokUsA Controversy about firing US AG: http://www.youtube.com/watch?v=I12oDVr2RZQ&feature=related
Some guys Ideas for stimulus and for getting people back to work: