Posted 1 year ago on Oct. 4, 2011, 7:14 p.m. EST by prometheusnow
This content is user submitted and not an official statement
I would like to contribute some information.
At this point many are realizing the perils of moneys growing influence over the systems rules, and the dangerous acceleration of wealth disparity that results, threatening the systems very viability. However there is a prisoners dilemma or sorts for all participants, if you pull out first for ethical reasons you lose power, then you can't even hope to fix it.
Because of this I think its important the focus is on core changes to the incentive systems, rather than attacking instances of corruption. New instances will come as fast as ever so long as the incentives promote such dynamics.
In a way this is like the war on drugs, or prohibition. A witch hunt taking out corrupt organizations will have as much benefit as taking out a few drug lords, it will do more harm then good.
Here is some data to use to point out major failures of the system as it is: a. prison population: http://en.wikipedia.org/wiki/File:US_incarceration_timeline-clean.svg b. US public debt: http://en.wikipedia.org/wiki/File:USDebt.png c. wealth inequality: http://upload.wikimedia.org/wikipedia/commons/0/01/United_States_Income_Distribution_1947-2007.svg
Another data point: "According to new research from Moody’s Analytics, the top 5% of Americans by income account for 37% of all consumer outlays. Outlays include consumer spending, interest payments on installment debt and transfer payments."
Another point related to govt bailouts: The reason I think it is a bad plan, assuming money has a major impact on legislation. The bailouts fail as current money holders have built structures that capture new money flows. Then that captured money is used to buy up assets on the cheap to rent back to the underclass.