What do you think of the video on corporate greed in America?
Truth hurts. Republican party destroyed America and will never own up to it.
They state the profits continue to go up while the number of employees within these companies are at an all time low. Read the most thumbed up comment too.
- Anonymous8 years agoFavorite Answer
Depository Institutions Deregulation and Monetary Control Act
"Federal act passed in 1980 leading to the deregulation of deposit interest rates, while also allowing financial institutions to have easier access to the Federal Reserve's discount window. "
Frontline: The Warning - the story of Brooksley Born, the Clinton appointee who was shunned by the Clinton admin for advocating regulation of derivatives.
Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis
Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown
Bill Clinton "democrats at fault for Fannie & Freddie
The Glass-Steagall Act was repealed by the 1999 Gramm-Leach-Bliley banking deregulation act, which passed with overwhelming majorities of both parties in both houses of Congress, then it was eagerly signed into law by Bill Clinton. The 2008 meltdown was attributed directly to this law.
Arthur Levitt, Jr. was the longest serving head of the SEC. Do a Google search on him, see what pops up.
He was appointed by Clinton in 1993 and again in 1998. He left in 2001, so he covered the entire Clinton administration.
Levitt gave Madoff a free pass because they were both members of the Harmonie Club, a social club for the ultra wealthy in NYC.
Madoff was first reported to the SEC in 1992:
Report: Regulator was tipped off about Madoff fraud as early as 1992
"a suspicion of trouble at Madoff Investment Securities arose as early as 1992 when customers of Avellino & Bienes, a fund that invested all its money with Madoff, complained about documents making a seemingly impossible promise of "100%" safe investments. Although the SEC shut down Avellino & Bienes, the agency only made a "brief and very limited" examination of Madoff."
Avellino & Bienes was shut down by the SEC in 1993, the year Levitt took charge.
Levitt also gave a special exemption to Enron, exempting it from accounting rules. This special exemption led directly to the Enron scam and the subsequent meltdown of the company, which took down a major chunk of the economy with it. It also led to the discovery of similar fraud at many other companies, fraud that got its start in the Clinton years.
If I was going to pick one individual who was most responsible for the rampant fraud of the Clinton years, it would have to be Art Levitt.
- Anonymous8 years ago
Corporate greed is evil.
However, it is the result of corporatism, not capitalism. There is a difference. Don't blame Free-Market Capitalism, because we haven't had that for a long time. We have Corporatism.
In Corporatism, government gives favors to the wealthy and connected, bailouts and corporate welfare, for example. Corporations also have control over government. In true Capitalism, the government can't get involved, therefore businesses can't get bailout or welfare, and they don't have political influence, therefore, all business is forced to compete instead of monopolies dominating everything.
This is also as a result of lobbying and people voting in corporates. People should NOT vote in corporates and lobbying for big business and monopolies should be illegal.
- 8 years ago
I don't view links:
Corporate "greed" exists.(although it's an ingrained habit of left-wing parasites
to call profits, "greed.")
But so does welfare greed in millions of your homeboys and girls.
Take a walk in a local welfare office and take note of the number
of welfare recipients using expensive cell-phones.
A type of phone I can't afford to buy.
Greed in little amounts by tens of millions amount to a lot of cash
paid by the tax payer.
- polcinLv 44 years ago
Please repeat this question many times, everywhere online you may. you have extremely hit the nail on the pinnacle. As a clean veteran of america military, i does not preserve a thorough leftist u . s . of america from foreign places enemies, pondering I hate leftist libtard human beings extra effective than something in the international.
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- 8 years ago
Greed, for lack of a better word, is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures, the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge, has marked the upward surge of mankindSource(s): the truth communists don't understand
- OscarLv 78 years ago
I think Ed Schultz is a left wing propagandist idiot. I take everything he says with a grain of salt. Preferably in hundred pound bags.
- virgodLv 78 years ago
You won, you are in power. What else, thy hell, do you want? Ask hussein to issue an executive order and send all corporations to, say, TX, then - seal the borders, and SHUT UP ALREADY!