Freedumb, Freedumb, Read All About It! "A Free Trade, Free Market, Free Corporate, Unregulated Economy run like Al Capone's Casino Joint, and Policed by Al Capone". Is this the best University MBA/PHD Masters and Government Regulators can provide?
PEOPLES LIVES DEPEND UPON THE ECONOMIC SYSTEM. The economic system is not singularly a tool for profit, and the hell with Life. "We now have to pay for the greed and recklessness of those who should have known better.” It is time, Mr. Schumer said, for the American economy to be revived as the “engine of prosperity,” rather than as a “casino” for high-rollers in the realm of finance.
How, in a world of exploding human population, with unparalleled needs, wants and desires, can the economy keep falling, with more and more working people around the world, poorer, lacking basic needs and going hungry... this can only be termed Freakohnomics: The new 21st Century Supply & Demand Economics - absolute greed, absolute power brings on absolute madness - Turns into Freakohnomics gone berserk. Or mafia economics by deliberate Design - the greater the need, the higher the price for all commodities required to sustain Life. The Outcome, economic strangulation and workaholic enslavement of a people was not designed by the lord thy God, nor (for the non-believer) is it a Natural or Nature's Law, nor a Scientific Law
What factors changed Market Supply & Demand Fundamentals to Freakohnomics gone berserk? From cheaper goods and services available to all through continual advances in science, technology and mass production, to 'Whatever The Market Will Bear' depending on how great the need for sustaining Life?
The answers lie in Power, Greed, and Stagnant Energy Science
The Deadly Dangers of a Mis-informed, Dis-informed & Un-informed Population, Ultimately to Itself, History Provides Ample Evidence.
The Solution: The Promise of New Energy Systems & Beyond Oil
Evaporates the Problem: The ill designed "Corporism: The Systemic Disease that Destroys Civilization." when devoid of a Bill of Rights for Human Life, devoid of scientific parameters necessary for Life's evolution, sustainability, and survival.
Mild shock and disbelief barely registered in the nation of the most productive, overworked, underpaid, underinsured, vacation deprived, low paid slave/workers in the world, as they watched their bridges fall down along with their retirement savings in equity & stocks, while their taxes, gas, energy and food costs continued skyrocketing to uncharted realms and many continue to lose their homes and go hungry; as the masses stagnated in unmovable traffic, and government departments threatened to close due to lack of funds - On the bright side, the worldwide corporate 2% greedy guts, individually, had aplenty, more wealth than 30 nations combined, apiece.... irrelevant to who is paying for their errors (as in subprime loans).
As common sense in science is lost with the continued stagnation of our energy base and deep troubling theoretical foundational issues in physics, so too, Civilization's Survival Parameters fly out of sight, out of mind, along with the values and morals inherent within new scientific understanding which new energy systems would reveal. Scientific Stagnation bodes an ill wind to evolution, sustainability, and survival as "cycles of humiliation, dumbing us down, violence, and Unrestrained Corporate Greed prompting resource wars with nuclear finality" join hands with global warming and ecological imbalance to precipitate the historical "rise and fall of civilization" - a Tsunami accelerating toward us with a far more spectacular event than the legends and myths of 'Atlantis and Lemuria"........ had more people known that Energy from Corn (or going backwards to a dimwitted concept of radioactive nuclear power application ) sounded a wee bit kindergartenish and senile for the twenty first century......the Future may have had a chance.
FREEDUMB, FREEDUMB READ ALL ABOUT IT – also read history: How lethal can obscene blind power and greed become? What Happened America? Who has all the money, Who is making all the decisions? Corporate golden greedy guts decision makers continue to be rewarded with more and more of taxpayer dollars, as the trickle up compensation has left the majority of working citizens at below slavery compensation (note that slaves worked and received both FOOD AND RENT/HOUSING)…..by the way, what were CD and Money Market rates in the 60’s?
Says Administration Will Crack Down on Banks' Executive Bonuses
By JOHN HENDREN
WASHINGTON, Jan. 31, 2009—
President Obama, usually cool, was visibly angry in his weekly address, chastising corporate bankers for the second time this week for accepting taxpayer bailout money and then doling out $18 billion in executive bonuses.
"The American people will not excuse or tolerate such arrogance and greed," Obama said in the video and radio message released today. "Even as they petitioned for taxpayer assistance, Wall Street firms shamefully paid out nearly $20 billion in bonuses for 2008."
Administration officials challenged a report in The Washington Post that suggested Obama was unlikely to tighten restrictions on compensation for banks that accept bailout funds, saying the report was "simply untrue."
White House and Treasury officials said the president will soon crack down on those big bonuses, shareholder enrichment and overall accountability.
Banking executives have long argued that they need to pay bonuses to retain quality executives.
This week, ABC News asked all 26 banks that have received $1 billion or more in bailout funds if they gave executive bonuses for 2008. Of the 22 that responded, 19 said they've either paid bonuses, or might still.
Synovus and one other bank, which did not want to be identified because it had not informed associates, said they would not be paying bonuses for last year.
Yet government strings come at a cost. Several healthy banks have recently declined money from the bailout fund aimed at persuading them to loosen credit and foster lending to boost the economy.
Rick Adams, executive vice president of United Bankshares Inc. of Charleston, W.Va., told ABC News the bank has declined $197 million in government funds in order to keep the government out of the boardroom, citing the government's ability to change the rules unilaterally and limit dividends, which have increased at the bank for 35 consecutive years.
"That was one of the factors," Adams said. "We're in a position to weather the tough times ... but the terms of the conditions was also a factor."
Nevertheless, the laments of bankers have been pilloried on Capitol Hill.
"We have a bunch of idiots on Wall Street that are kicking sand in the face of the American taxpayer," Sen. Claire McCaskill, D-Mo., said Friday on the Senate floor.
Wall Street greed has been panned on late night television, as when Jay Leno recently lampooned former Merrill Lynch and Bank of America executive John Thain, who spent $1.2 million redecorating his office.
"Then he gave billions of dollars to former Merrill Lynch employees," Leno said, deadpan. "They're calling this the biggest Wall Street scandal since Friday."
Banking excess has been lamented in the labor movement.
"Giving themselves $20 billion for the worst year we've had sine 1929 flies in the face of anything that make sense," Richard Trumka, secretary-treasurer of the AFL-CIO labor union, told ABC News.
Trumka says excessive executive compensation contributed to the risk-taking that caused the collapse of the financial industry. With executive bonuses tied to revenue, he said, executives were encouraged to take bigger risks _ in particular on housing loans for risky borrowers who later defaulted.
"All of that contributed to the collapse," Trumka said. "We need to rein that in. We need to reregulate them and we need to arm investors with the tools to be able to control companies and manage this risk so investors don't get hurt in the long term."
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