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Abu Muqawama About 30 Seconds Away From Unfurling A Giant Red Flag And Singing The Internationale
August 27, 2009 | Posted by Abu Muqawama - 6:14pm | 10 Comments
hooh lawd
hooh lawd
A national kneecapping
A national kneecapping progr|||||||am?
Youre rich and stupid!
//Bam!//
Just think that this piling
Just think that this piling of concentrated money will seek a public asset to buy and hold eternally. It will set premiums across the broad citizenry and extract an annuity net of crumbs given back. Listening to the barkers, one can surmise that the targets are those they declare to be poorly managed government assets such as Medicare, social security, school systems, health care. Hell, in this environment one could build case for the purchase and leaseback of an ICBM.
It is out of balance. We seem to have forgotten the lessons that enables us to withstand Marx's reaction to the cruelty of the world of profit without social responsibility. Even a conservative Pope is growing concerned and issuing a encyclical calling for rebalanced wealth distribution. When the shareholder no longer sees the stakeholder, human dignity grows angry.
Funny title. I recently saw
Funny title. I recently saw the 1965 film "The East is Red" on YouTube. The finale is unforgettable, with the entire audience standing at attention and singing "The Internationale" in Chinese. (Made me want to stand up and do the same!)
My Croatian friends tell me their worried for their little country, because of all the foreign ownership that is taking place before their very eyes. They say their little country is in danger of being swallowed up by it all. With a story such as the one you've cited, I can see why. I visited the place in 1975. They say I wouldn't recognize it.
I feel the last bits of free
I feel the last bits of free market ideology withering in my soul. What an ass.
But this is the heart and
But this is the heart and soul of capitalism.
''He had returned to the
''He had returned to the villa in a city famed for its medieval walls and crystal clear waters because he said he wanted to oversee the harvest of his vineyards. ''
Apparently he can oversee the largest and most complex insurance company in the world over the phone, but he has to oversee the harvest of his vineyards in person. Classic. Absolutely classic.
This isn't capitalism and
This isn't capitalism and certainly not the free markets. It's oligarchy and crony capitalism. In the free market, these humps go into bankruptcy. Bye. You're gone. Everybody takes a bath.
In the American system of Capitalism that existed until 2008, they have receivership when they want to save somebody. Shareholders are wiped out. Bondholders get the scraps. Profitable divisions (like AIG's insurance) get spun off.
@Fnord,
Not to defend AIG, but you do realize 1) AIG is the main molly for running our taxpayer loot to Europe's banks, and 2) the info we get here is the Euro banks are even more exposed than the US banks.
I say screw everybody - live by the Free Market, die by same. You kill your own food, or your own food kills you.
We are not saving the banks of course, we're saving the bankers at the cost of our own skins.
Thanks for highlighting this
Thanks for highlighting this story - what a message it sends. I think it is a clear example of the strategic communications problems recently noted by ADM Mullen when he wrote: "we hurt ourselves and the message we try to send when it appears we are doings something merely for credit...we hurt ourselves more when our words don't align with our actions...We must be vigilant about holding ourselves accountable to higher standards of conduct and closing any gaps, real or perceived, between what we say about ourselves and what we do to back it up."
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