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Forum Post: Who's Responsible?

Posted 9 years ago on Oct. 14, 2012, 1:24 p.m. EST by agkaiser (2515) from Fredericksburg, TX
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“. . . Romney's private equity fortune amassed during his tenure as Bain Capital's boss is only one example of how business in the US was transformed from organization-based (corporations that lived and died by the quality of the products and services they provided) to transaction-based ("consulting firms" engaged in private deal-making to avoid regulation and transparency, hostile takeovers, leveraged buy-outs, restructuring schemes, lay-offs, and ruthless pursuit of quick profits). It's a transformation that made a few people very, very rich, and put most of us very, very much at risk – our homes, jobs, savings, and pensions . If Obama is to blame for anything it's for talking about hope in 2008 at a time when millions of Americans – poor and middle class alike – were about to lose it.

“In the brave new economy the only thing that defines success or failure is the bottom lines for the investors and owners (one and the same) of ephemeral companies constantly moving across an ever-changing commercial landscape and providing no measurable benefit to consumers, workers, or the society they exploit. If anything good and lasting comes out of this election let's hope it's the truth about who hijacked the US economy and how they did it. Never mind why (greed is nothing new). The key to finding a solution is understanding the problem.

“This article was published at NationofChange at: http://www.nationofchange.org/who-hijacked-world-s-greatest-economy-1350221836. All rights are reserved.”



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[-] 7 points by agkaiser (2515) from Fredericksburg, TX 9 years ago

“. . . The only way the game may continue is to have new money come to it. The winners, of course, smell the new blood and even anticipate it greedily. And the biggest winner over a time is always the house. Until the free market ideologues took over, the biggest difference between a casino bank and finance was that the gaming house took a bigger cut of the handle. . . .”

Excerpt from: How Does That Work? https://www.createspace.com/3852916