Posted 5 years ago on Oct. 15, 2011, 7:19 p.m. EST by ARod1993
This content is user submitted and not an official statement
We've never said "no capitalism" as a movement. We've never said "no banks" either. We accept that the movement of capital as facilitated by financial institutions is what propels this economy forward. However, if you look more closely at this statement, it essentially means that the financial services industry has an incredible amount of power. If it chokes up and shuts down, so do we. If financial institutions decide to go on a bender, their high carries us for a while, but then their hangover equals severe recession to depression for us. The only other institution or series thereof with that kind of power is the government, and the government is a) at least in theory directly accountable to the people who have to live with the consequences of its mistakes and b) subject to constant calls for its diminution, castration, and in some cases its elimination since 2008. What I'm trying to understand is why an industry so powerful was (and still is) subject to so little regulation and oversight. And quite honestly, I can't think of a satisfactory answer.