can we trust corperations at all?

[Old Rocks]

In the last two years we have seen two catastrophes driven by corperate greed and incompetance. The near collapse of the world's financial sector, and the present fouling of the Gulf of Mexico.

In both cases, the driving factor for the corperations was greed, irregardless of the consequences. The people in the financial corperations never considered the eventual impacts of their actions, just looked at the billions they were racking up daily. BP never even considered the possible cost of not installing that $500,000 dollar valve. Or the consequences of the many other shortcuts that were taken on that drilling rig. Enough shortcuts that the possibility of a disaster became a certainty of a disaster.

Is there any reason to allow any major corperation to operate without intensive oversight and regulations? Can we afford not to keep a short leash on these people.

 

[Oddball]

I know for certain that the District of Columbia Corporation cannot be trusted.

They've ignored and usurped virtually every regulation written to keep them in their box.

 

[Mr. H.]

In time, every piece of equipment will be retrieved from the Gulf floor and analyzed. There will be hundreds of interviews and countless numbers of investigations. Until then it would be a good idea to keep phrases such as "greed" and "incompetence" at bay.

 

[driveby]

In the last two years we have seen two catastrophes driven by corperate greed and incompetance. The near collapse of the world's financial sector, and the present fouling of the Gulf of Mexico.

In both cases, the driving factor for the corperations was greed, irregardless of the consequences. The people in the financial corperations never considered the eventual impacts of their actions, just looked at the billions they were racking up daily. BP never even considered the possible cost of not installing that $500,000 dollar valve. Or the consequences of the many other shortcuts that were taken on that drilling rig. Enough shortcuts that the possibility of a disaster became a certainty of a disaster.

Is there any reason to allow any major corperation to operate without intensive oversight and regulations? Can we afford not to keep a short leash on these people.

I don't trust the asshole in charge that says "i'm going to keep my boot on the throat of BP". No leadership, no class, and has no business being commander in chief.....

 

[Toro]

For the most part yes. You need rules and regulations, and you need a strong ethical culture that disapproves of bad behavior, but corporations are run by people, and people generally want to do the right thing.

 

[xsited1]

Yes, we can trust Corporations. What we need to be mindful of is Crony Capitalism.

Crony capitalism is a pejorative term describing an allegedly capitalist economy in which success in business depends on close relationships between businesspeople and government officials. It may be exhibited by favoritism in the distribution of legal permits, government grants, special tax breaks, and so forth.

 

[rdean]

can we trust corperations at all?

I suspect it will be difficult to find a Republican that says "NO".

According to Republicans, all things good and holy flow from corporation. Corporations are the alpha and the omega. The source of all jobs. Security. Right wing economics say, "If corporation do well, the country does well".

To make sure corporations give their benediction, workers must forgo safety, insurance, raises, vacations. Only board members should get raises and bonuses.

 

[Mr. H.]

can we trust corperations at all?

I suspect it will be difficult to find a Republican that says "NO".

According to Republicans, all things good and holy flow from corporation. Corporations are the alpha and the omega. The source of all jobs. Security. Right wing economics say, "If corporation do well, the country does well".

To make sure corporations give their benediction, workers must forgo safety, insurance, raises, vacations. Only board members should get raises and bonuses.

Republicans tend to shy away from such all-inclusive qualifiers as "all", "never", "always", and "must".

 

[Neubarth]

For the most part yes. You need rules and regulations, and you need a strong ethical culture that disapproves of bad behavior, but corporations are run by people, and people generally want to do the right thing.

The culture on Wall Street is one of greed. We need to enforce the laws that exist. We need to reform the court system and the concept of punishment for crime to straighten the whole mess out. I favor the immediate death penalty for felons. Once we make crime something that is seriously punished, we will see the world of finance quickly reformed. Now, if they are caught stealing Billions, they get to go to a non lock down executive country club where they can play nine holes of golf every day. That shit has got to stop.

 

[driveby]

Yes, we can trust Corporations. What we need to be mindful of is Crony Capitalism.

Crony capitalism is a pejorative term describing an allegedly capitalist economy in which success in business depends on close relationships between businesspeople and government officials. It may be exhibited by favoritism in the distribution of legal permits, government grants, special tax breaks, and so forth.

Yep, that's Obama's version of being " fair " .....

 

[Oddball]

can we trust corperations at all?

I suspect it will be difficult to find a Republican that says "NO".

According to Republicans, all things good and holy flow from corporation. Corporations are the alpha and the omega. The source of all jobs. Security. Right wing economics say, "If corporation do well, the country does well".

To make sure corporations give their benediction, workers must forgo safety, insurance, raises, vacations. Only board members should get raises and bonuses.

Republicans tend to shy away from such all-inclusive qualifiers as "all", "never", "always", and "must".

Anybody with any brains does that.

 

[boedicca]

Perhaps if oil companies were not denied the ability to drill for more easily accessible oil on land or in shallow waters, this mess could have been avoided. It's a shame that the people who laud Norway for it's economic performance fueled by their huge amount of oil revenue deny the U.S. an opportunity to use our own national resources.

 

[AllieBaba]

Why on earth would anyone "trust" a corporation? A corporation is a group of people you don't know, for the most part.

I trust some companies more than I do others, based on what I know of their practices and their history. But that's as far as it goes. I don't expect them to coddle me, and I understand that ultimately, they are money making machines. That's what they're supposed to be. They aren't babysitters, for God's sakes.

 

[AllieBaba]

Perhaps if oil companies were not denied the ability to drill for more easily accessible oil on land or in shallow waters, this mess could have been avoided. It's a shame that the people who laud Norway for it's economic performance fueled by their huge amount of oil revenue deny the U.S. an opportunity to use our own national resources.

Everything is going exactly according to the admin's plan.

The plan was to restrict drilling to such an extent that price is driven up to the point where people are forced to utilize alternative energy sources (which of course are much more expensive). After restricting drilling to dangerous areas, when catastrophe strikes, as it must, demonize the oil companies and shut them down altogether.

I predicted this before Obama's reign. Obama wants to see us digging in the dirt, freezing to death, starving.

 

[HUGGY]

can we trust corperations at all?

I suspect it will be difficult to find a Republican that says "NO".

According to Republicans, all things good and holy flow from corporation. Corporations are the alpha and the omega. The source of all jobs. Security. Right wing economics say, "If corporation do well, the country does well".

To make sure corporations give their benediction, workers must forgo safety, insurance, raises, vacations. Only board members should get raises and bonuses.

Republicans tend to shy away from such all-inclusive qualifiers as "all", "never", "always", and "must".

Anybody with any brains does that.

Or sweeping qualifiers like "anybody"

 

[Oddball]

Golly....You got the cryptic point.

Maybe you're only about half as stupid as you act.

 

[Toro]

To make sure corporations give their benediction, workers must forgo safety, insurance, raises, vacations. Only board members should get raises and bonuses.

That is silly.

 

[Si modo]

"Corperations"?


Ummmm. Okie doke.

 

[Toro]

The modern economy is based on trust. If everybody didn't trust anybody, we would collapse back into the Stone Age.

 

[william the wie]

The modern economy is based on trust. If everybody didn't trust anybody, we would collapse back into the Stone Age.

True. But the question that is being ducked is why the artificial corporation instead of market derived organizations such as partnerships, joint stock limited life projects and so on? The transition from partnerships to corporations in investment banking has been an unmitigated disaster. By limiting liability downside but not limiting the upside potential the check on financial and structural leverage in finance has been lost. The result is meltdown. Having serious skin in the game makes a major difference in decision making.