georgephillip
Diamond Member
Does anyone remember Dubya with his arm around Ken Lay's shoulder promising to run America like Enron?I've heard many right wingers say America needs to be run more like a corporation or we need to give more power to corporations to leave them "free to make jobs".
Ignore the fact that American corporations are making the most profits in their entire history. Ignore the fact that they sit on trillions in capital because there is no demand since millions of American jobs have been outsourced to China from 2001 to 2008.
You look at News Corp in Great Britain and you see what a corporation running a country is like. Hacked cell phones. Bribery. Scandal.
I'm pretty sure the right wing doesn't have this in mind when they fantasize about how ultra capitalist and wonderful if only corporations were in charge. Well, they almost are. And if the right has it's way, they will be. Careful what you wish for. You might get it.
Despite the Great Recession of '08 the financial assets of America's billionaires and the cash held by the most profitable corporations are at historic highs.
"Corporations are using their stores of cash primarily to buy back their own stock, acquire control of other companies, invest in off-shoring yet more American jobs, and pay generous dividends to shareholders and outsized bonuses to management.
"Unfortunately, most of those who hold the cash and the corporations they control have lost interest in long-term investments that build and expand strong enterprises.
"The substantial majority of trades in financial markets are made by high-speed computers in securities held for fractions of a second.
"Business pundits still refer to this trading as investment.
"It bears no resemblance, however, to the investment required to put people to work rebuilding a strong America."
For six ways to gut Wall Street see:
Six Ways to Liberate America From Wall Street Rule | Truthout