Tuesday, October 4, 2011

It's simple: Capitalism must be regulated

Michael Lewis on Fresh Air today: The market "has become an engine of unfairness." Lewis claims that the banks of Wall Street can no longer assess the risk of even their own investments. It's not only a big swindle, it's simply out of control and unable to rein itself in.

And the political enabling (by both parties) has become pathological:
Government exists, apparently, only to serve the needs of the market. We are constantly told how the market needs this, or the market needs that, and how we have to personally massage the frightened egos of every last fucking investment house, wealthy person, corporate powerhouse and so on lest they take away our precious bubbling economy from us. We'll shut down government, or threaten to, on a seemingly regular basis now in ongoing attempts to gain some trivial new advantage for the investor class, or to snip away just a bit more from everybody else. -- "Hunter," Daily Kos

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