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Re: Let them eat hope.

By: Cactus Flower in ALEA | Recommend this post (0)
Thu, 05 Jul 12 7:03 PM | 100 view(s)
Boardmark this board | The Trust Matrix 		Msg. 08854 of 54959
(This msg. is a reply to 08853 by Down And Out Man)
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Wall Street is a good example. Bain Capital seems to have had this as one of its methods. Still not sure what value most of Wall Street contributes.

Another one is Man United FC, in which the Glazer family has raped a British football club for their own purposes and now is trying to float it on a US stock exchange, where I presume they hope folks are less familiar with their modus operandi. Just look at the voting disparity between A and B shares.

You could also argue that the apparent private purpose of Wave Systems competes with its public purpose to deliver a result for shareholders. With the result that huge gobs of capital have had their value destroyed, partly so that the family can continue its hegemony. $50m lost by two of them in its entirety with fell consequences for all except them.

Capitalism relies on a culture of honour and trust. If the winners are dishonourable and untrustworthy, society loses. If losers win, society loses.

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The above is a reply to the following message:
Re: Let them eat hope.
By: Down And Out Man in ALEA
Thu, 05 Jul 12 6:50 PM 		Msg. 08853 of 54959

Wall Street is a "rigged" game designed to benefit the few at the expense of the rest. It's a "closed" system. I italicize "closed" because, theoretically, anyone can gain some degree of access if they are willing and able to gain the education, mold themselves to the proper form, and put forth the effort.

But for the (way over) 99%, the financial system is designed to skim a vig off of everything. Makes leeches look like rookie parasites.

Huge difference between the money made producing useful products, and money made churning commodities futures and derivatives. Ought to be treated differently taxwise, in some manner.

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