
I no more defend corporate greed and excess than I do the same originatin
g from unions. It is no less criminal for Unions to drive cities and states, even government
s into bankruptcy
, than it is for financial interests to construct casinos ( leveraged trading of derivative
s, swaps, default guarantees
, and lots more) with "chip" values (principle values, interest rates, underwriti
ng and management fees, commission
s ) determined by factors that investors have no chance to control.
If government has any job wroth doing in the free enterprise system, it is to ensure transparen
t markets, level and competitiv
e markets, and absolutely no legislated or regulated monopolies
. Which we do not have today. Rather than arguring over history and "who struck John" stuff, I would rather our time be spent discussing potential solutions that deliver the needed transparen
cy, and freely competitiv
e marketplac
es, without monopolies
.
And, no one has starved to death in America for generaions
; they do in China, and Russia, and in the Middle East, so don't hold them up as an example of "doing good."
Read the Article at HuffingtonPost
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