Deregulation

[Apone]

I recently watched the documentary 'Enron: The Smartest Guys In The Room', and it seemed to me that increasing deregulation of the markets only opens the way to exploitation and corruption through strategies like 'mark to market', where the actual value of a stock can be legally distorted (based on so-called 'future' earnings) in order to sell more of it and thereby raise the 'actual' value.

Does anyone here actually believe that deregulating the stock market is a good thing? I mean, seriously-- I'm not completely sure what Romney wants to do with the markets but I think it's pretty gd obvious that it's impossible to trust huge trading companies to ever do anything properly-- that corrupt 'free-for-all' mentality doesn't just go away after a scandal... you have to stamp it out and really come down on wall street.

The documentary also called attention to the mentality by which evil and exploitation become socially acceptable or even like a joke-- there are real conversations with people who are happy about hugely destructive fires... joking about how great it is that the president just picked the founder of what they knew to be one of the most corrupt companies ever to be Treasury Secretary... or gloating and reveling in the fact that the brownouts in the state of California (which they very likely caused) were driving their stock prices way up. They were actively stealing from people who weren't even invested in the markets by driving the cost of their power way up. How could anyone possibly be so naive as to think that this sort of mentality will just go away on its own???

To me deregulation is the same as trusting your dog not to eat the juicy steak that you just cooked.

 

[moonlightam]

Agree wholeheartedly. The best example of deregulation failings is in the banks - they are a law unto themselves

 

[Apone]

The banks to me seem like latecomers.

They're basically lemmings who keep their ears to the ground and wait for deregulation to spawn some sort of incredibly backwards trading concept (which of course means giving absolute power over the markets to CEOs, which is what happened with Enron), and then after it's been exploited by traders, they jump in and invest your average citizen's money just at the point when the scandal is about to break, just so that absolutely everyone can get f--ked over by the collapse. Mostly because banks tend to rely on 'proven' stocks without considering whether or not it might just be too good to be true.

Considering we're talking about the entire economy here, it's a wonder why there isn't an extremely strict monitoring system in place... the police are sent to crack down on OWS for getting in the way of some people on their way to work, but when this kind of thing happens, the president's reaction is to consider giving the founder a position in the federal government. Maybe it's just hindsight, but to me the whole concept seems so obviously doomed to corruption and failure and exploitation by mentally unstable people on cocaine that it's truly a wonder that it ever came to be.

 

[tfg345i4u5lw]

I don't think people should put money in the stock market right now. It has nothing to do with reality anymore.

 

[moonlightam]

I must apologize for i dont think my English is good enough to get involved in such discussions, but there is already too much deregulation on everything. And in my opinion it will only get worse, because of corruption. It really stinks to me too, but at the moment i cant think of a way to fix it all which would not involve mass civil unrest and a few hundred guillotines working non-stop for a decade or so... U got any ideas?

 

[gd65h8as7]

I watched Enron:Smartest Guys in the Room a few years ago and the documentary was really well done. Very interesting stuff, it was actually very gripping.

But anyways, deregulation is basically a recipe for disaster. I'm all for free markets, but I think there should be measures in place to ensure that the consumer doesn't get fucked over.

 

[muir]

I agree that deregulation leaves the door open for all sorts of wrongdoing

I see it as part of a process with a particular end in mind

For example the same people crying out for deregualtion also want increased privatisation. This is all part of a wider move called neoliberalism.

Apologists for neoliberalism will give you a load of speil about it being about opening up markets and trade which all sounds lovely, but it can't be seen out of the wider context

The wider context is not one of a level playing field where everyone has equal opportunities. The American dream of rising up from nothing is for most just a dream.

The reality is that there are families who control the big corporations and have done so for decades and in the case of some such as the rothschilds for centuries. Much like the big 5 mafia families immortalised in the godfather films there are also families who are behind big corporations.

Also you can't draw a distinction between say banking and oil or between weapons manufacturing and say pharmaceuticals because the families who control the corporations have interests in ALL these areas

They have grown in power and influence often killing opponents (like in the godfather films) and are now so powerful that they influence national policy

An example of such a family would be the Rockefellers who have business affiliations with the Rothschilds and made their fortunes in Oil through the Rockeffeller Standard Oil company and then got into other areas such as banking through their Chase Manhatten Bank which is one of the major shareholders in the privately owned federal reserve bank

The Rockefellers donated the land in new York for the United Nation offices to be built on and David Rockefeller had this to say in his memoirs:

"For more than a century ideological extremists at either end of the political spectrum have seized upon well-publicized incidents such as my encounter with Castro to attack the Rockefeller family for the inordinate influence they claim we wield over American political and economic institutions. Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as ‘internationalists’ and of conspiring with others around the world to build a more integrated global political and economic structure – one world, if you will. If that’s the charge, I stand guilty, and I am proud of it."

David Rockefeller also set up the Trilateral Commission and was chairman of the The Council On Foreign Relations which is a think tank that advises the US government on foreign policy. So clearly this guy has aspirations of a global nature

You can see US presidents talking at the council on foreign relations on youtube and you can see a list of members on wikipedia. There is also a link that will show you who their corporate members are and it is a very long list of all the big corporations in the US....so we are talking about a forum where the most influential people in the US meet and David Rockefeller was a chairman of this group. he is also known to attend the secretive meeting of world leaders called the 'Bilderburg Club' which the mainstream news does not have access to.

So whats the problem with all this?

The problems as i see it are as follows:

1. A single family has huge control over the federal reserve, the government, the banks, the corporations and think tanks and they are not subject to the democratic process YOU CANNOT VOTE THESE PEOPLE OUT OF POWER

2. When at harvard university David Rockefeller wrote his dissertation on Fabian Socialism. Now i would call myself a libertarian socialist and there is no way that i recognise David Rockefeller as a genuine socialist. This is because i see socialism as when the workers control the means of production, but what david sees socialism as is when he controls the state and the means of production in a centrally controlled state socialist economy which is essentially what Nazi germany was. Mussolini said that fascism is when you have a merging of corporate and government power and that is EXACTLY what David wants

3. Meyer Amschel Rothschild had a dream to create a global government that would free his banking dynasty of regulation. His decendents and his affiliates such as the Rockefellers want exactly that. They want deregualtion so that they can do what they want. They also want privatisation because when the banks failed and were bailed out by the taxpayers ('bank bailouts') the money was paid to the bankers creditors.....but who were the bankers creditors? The bankers creditors were the powerful families such as the Rothschilds and Rockefellers. These global investors now have all the money because the corrupt politicians who are their agents have handed them all our taxpayer money. Now because countries like Greece and Spain are struggling they will sell off all their assets in firesales and privatisation drives. And who has the money to buy everything up? Yes you guessed it