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Forum Post: Is Capitalism the issue?

Posted 13 years ago on Oct. 10, 2011, 9:51 p.m. EST by avegagti (1) from Orlando, FL
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I'm against what's going on as much as everyone else, I think some corporations especially the major financial institutions have taken over our government, control our policies, our media, our lives and are destroying more than they are creating, but guess what.. that's not capitalism.. Think about Facebook, Apple, Google, etc, which all provide services and products that we buy because they created something that benefits the user which creating a market. Why is no one protesting in Silicon Valley? because that is capitalism, and somebody(ies) invested all they had, all their time, and created something from their ideas. They didn't create fake markets driven by fear, manipulation, and propped up by policies they bought from the government who is supposed to be for us. Big difference. I won't give too much away, but I was in the mortgage business for years, and I saw a lot of what happened. To say it was all greedy bankers is an oversimplification. When our government decided to force lenders to fill quotas to lend to underserved markets (low income/low credit), they took the lenders responsibility to ensure those loans performed away but subsidizing them(fannie & freddie) who wrapped them into securities that no one understood. So, it was not only the lenders who made money originating the loans, selling the loans to the gov, and servicing those loans, the people who speculated and bought into the idea of using a freakin house as a stock, but also the idea (as well intentioned as it may have been) that we can control people and force them to do what we want. We have a lot to fix and no system is perfect, but socialism cannot work in a country as large and diverse as the U.S.. my 2 cents..

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