"Sin" in western business ?

[georgephillip]

While it's criminally Republican to suggest Hank the Punk was not looking out for hedge fund managers and other rich parasites in July of 2008:

too stupid!!! He bailed them out to prevent a great depression and they paid the money back!! If that was criminal rather than saintly you would not be so afraid to explain why. What does your fear tell you??

You are like a Nazi, you were taught to hate, and you don't care if you have a reason to hate.

So why did the saintly government regulator transmit material nonpublic market information to market participants? Crony (Goldman) capitalism?

 

[EdwardBaiamonte]

While it's criminally Republican to suggest Hank the Punk was not looking out for hedge fund managers and other rich parasites in July of 2008:

too stupid!!! He bailed them out to prevent a great depression and they paid the money back!! If that was criminal rather than saintly you would not be so afraid to explain why. What does your fear tell you??

You are like a Nazi, you were taught to hate, and you don't care if you have a reason to hate.

So why did the saintly government regulator transmit material nonpublic market information to market participants? Crony (Goldman) capitalism?

who said he did???????????? Don't make stupid assumptions without presenting evidence

 

[georgephillip]

too stupid!!! He bailed them out to prevent a great depression and they paid the money back!! If that was criminal rather than saintly you would not be so afraid to explain why. What does your fear tell you??

You are like a Nazi, you were taught to hate, and you don't care if you have a reason to hate.

So why did the saintly government regulator transmit material nonpublic market information to market participants? Crony (Goldman) capitalism?

who said he did???????????? Don't make stupid assumptions without presenting evidence

Bloomberg and Bill Black, among others

"William Black, associate professor of economics and law at the University of Missouri-Kansas City, can’t understand why Paulson felt impelled to share the Treasury Department’s plan with the fund managers.

“'You just never ever do that as a government regulator -- transmit nonpublic market information to market participants,' says Black, who’s a former general counsel at the Federal Home Loan Bank of San Francisco. 'There were no legitimate reasons for those disclosures.'

"Janet Tavakoli, founder of Chicago-based financial consulting firm Tavakoli Structured Finance Inc., says the meeting fits a pattern.

“'What is this but crony capitalism?' she asks. 'Most people have had their fill of it.'”

How Paulson Gave Hedge Funds Advance Word of Fannie Mae Rescue - Bloomberg

 

[JoeNormal]

Unlike the "Shareholder Value Myth" which requires corporate welfare to backstop the idea "...that companies should be run for the sole purpose of increasing their stock prices."

"To Lynn A. Stout, however, it amounts to nothing more than a 'shareholder dictatorship.'

"Ms. Stout, a professor at Cornell Law School, has authored a slim and elegant polemic, 'The Shareholder Value Myth" (Berrett-Koehler Publishers) to explain the idea's two problems: It's worked out horribly, and as a matter of law, it's not true.

"The blame lies with economists and business professors who have pushed the idea, with generous enabling from the corporate governance do-gooder movement, Ms. Stout contends.

"Stocks, as a result, have become the playthings of hedge funds, warping corporate motivation and eroding stock market returns."

How Shareholders Are Hurting America - ProPublica

Agreed. The CEO of the corporation I work for has made it obvious that his primary motivation is in the perception of the stockholders. Consequently, he has instituted many ill-advised 'innovations' that a stockholder might view as positive but that those of us who actually produce stuff have to roll our eyes at.

 

[EdwardBaiamonte]

What is this but crony capitalism?she asks. 'Most people have had their fill of it.'”

then why elect Obama who gave 71% of his energy investment fund to campaign contributors and wants to get in bed with 17% of the entire economy through Obamacare??

If you don't like government in bed with industry elect Republicans who stand for limited government, not crony capitalist big liberal powerful government.

BY the way, your own article says there is no evidence that anyone profited from what Paulson said so it appears to be a minor issue.

 

[EdwardBaiamonte]

Consequently, he has instituted many ill-advised 'innovations' that a stockholder might view as positive

the beauty of capitalism is that the only thing stockholders view as positive is earnings!!

 

[georgephillip]

Unlike the "Shareholder Value Myth" which requires corporate welfare to backstop the idea "...that companies should be run for the sole purpose of increasing their stock prices."

"To Lynn A. Stout, however, it amounts to nothing more than a 'shareholder dictatorship.'

"Ms. Stout, a professor at Cornell Law School, has authored a slim and elegant polemic, 'The Shareholder Value Myth" (Berrett-Koehler Publishers) to explain the idea's two problems: It's worked out horribly, and as a matter of law, it's not true.

"The blame lies with economists and business professors who have pushed the idea, with generous enabling from the corporate governance do-gooder movement, Ms. Stout contends.

"Stocks, as a result, have become the playthings of hedge funds, warping corporate motivation and eroding stock market returns."

How Shareholders Are Hurting America - ProPublica

Agreed. The CEO of the corporation I work for has made it obvious that his primary motivation is in the perception of the stockholders. Consequently, he has instituted many ill-advised 'innovations' that a stockholder might view as positive but that those of us who actually produce stuff have to roll our eyes at.

Lincoln said much the same in 1861

"It is the effort to place capital on an equal footing with, if not above, labor in the structure of government. It is assumed that labor is available only in connection with capital; that nobody labors unless somebody else, owning capital, somehow by the use of it induces him to labor.

"This assumed, it is next considered whether it is best that capital shall hire laborers, and thus induce them to work by their own consent, or buy them and drive them to it without their consent.

" Having proceeded so far, it is naturally concluded that all laborers are either hired laborers or what we call slaves. And further, it is assumed that whoever is once a hired laborer is fixed in that condition for life.

"Now there is no such relation between capital and labor as assumed, nor is there any such thing as a free man being fixed for life in the condition of a hired laborer. Both these assumptions are false, and all inferences from them are groundless.

"Labor is prior to and independent of capital.

"Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration."

Don't try to tell that to your CEO or his shareholders.

State of the Union Address: Abraham Lincoln (December 3, 1861) — Infoplease.com

 

[EdwardBaiamonte]

Unlike the "Shareholder Value Myth" which requires corporate welfare to backstop the idea "...that companies should be run for the sole purpose of increasing their stock prices."

"To Lynn A. Stout, however, it amounts to nothing more than a 'shareholder dictatorship.'

"Ms. Stout, a professor at Cornell Law School, has authored a slim and elegant polemic, 'The Shareholder Value Myth" (Berrett-Koehler Publishers) to explain the idea's two problems: It's worked out horribly, and as a matter of law, it's not true.

"The blame lies with economists and business professors who have pushed the idea, with generous enabling from the corporate governance do-gooder movement, Ms. Stout contends.

"Stocks, as a result, have become the playthings of hedge funds, warping corporate motivation and eroding stock market returns."

How Shareholders Are Hurting America - ProPublica

Agreed. The CEO of the corporation I work for has made it obvious that his primary motivation is in the perception of the stockholders. Consequently, he has instituted many ill-advised 'innovations' that a stockholder might view as positive but that those of us who actually produce stuff have to roll our eyes at.

Lincoln said much the same in 1861

"It is the effort to place capital on an equal footing with, if not above, labor in the structure of government. It is assumed that labor is available only in connection with capital; that nobody labors unless somebody else, owning capital, somehow by the use of it induces him to labor.

"This assumed, it is next considered whether it is best that capital shall hire laborers, and thus induce them to work by their own consent, or buy them and drive them to it without their consent.

" Having proceeded so far, it is naturally concluded that all laborers are either hired laborers or what we call slaves. And further, it is assumed that whoever is once a hired laborer is fixed in that condition for life.

"Now there is no such relation between capital and labor as assumed, nor is there any such thing as a free man being fixed for life in the condition of a hired laborer. Both these assumptions are false, and all inferences from them are groundless.

"Labor is prior to and independent of capital.

"Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration."

Don't try to tell that to your CEO or his shareholders.

State of the Union Address: Abraham Lincoln (December 3, 1861) — Infoplease.com

yes yes yes workers of the world unite was how Marx killed 100 million in the last Century! I said you were like a Nazi in your blind hatred, I guess I should have said like a communist.

 

[georgephillip]

Consequently, he has instituted many ill-advised 'innovations' that a stockholder might view as positive

the beauty of capitalism is that the only thing stockholders view as positive is earnings!!

It's only beautiful in the eyes of slaves.

 

[EdwardBaiamonte]

Consequently, he has instituted many ill-advised 'innovations' that a stockholder might view as positive

the beauty of capitalism is that the only thing stockholders view as positive is earnings!!

It's only beautiful in the eyes of slaves.

of course too stupid!! Without earnings or profits all products stay in the market place and we stay in the stone age.

With profits we know which products the people like best or which ones improve our standard of living most. This is how we got from the stone age to here.

A liberal is a liberal merely becuase he lacks the IQ to understand capitalism.

 

[Rshermr]

the beauty of capitalism is that the only thing stockholders view as positive is earnings!!

It's only beautiful in the eyes of slaves.

of course too stupid!! Without earnings or profits all products stay in the market place and we stay in the stone age.

With profits we know which products the people like best or which ones improve our standard of living most. This is how we got from the stone age to here.

A liberal is a liberal merely becuase he lacks the IQ to understand capitalism.

ed.i

Why don't you give us all your definition of capitalism.

Sounds to me like it is what you hear from libertarian minded right wingers.

And tell us all why capitalism is in and of itself good.

 

[georgephillip]

What is this but crony capitalism?she asks. 'Most people have had their fill of it.'”

then why elect Obama who gave 71% of his energy investment fund to campaign contributors and wants to get in bed with 17% of the entire economy through Obamacare??

If you don't like government in bed with industry elect Republicans who stand for limited government, not crony capitalist big liberal powerful government.

BY the way, your own article says there is no evidence that anyone profited from what Paulson said so it appears to be a minor issue.

Be sure to mention that to Phil Gramm the next time you kiss his rich ass:

"The Enron affair is shaping up as quite possibly the largest political and financial scandal in American history. Untold billions of dollars have vanished down the drain in the biggest bankruptcy filing ever. Political connections ensnare every level of the Bush administration.

"Even more fearsomely than in the past, Americans will learn some hard lessons: that business corrupts politics, that capitalism cannot be trusted simply to the capitalists, and that without government safeguards, the public trust and the public treasury are always at grave risk."

A Scandal for our Time:

 

[EdwardBaiamonte]

Why don't you give us all your definition of capitalism.

peaceful, voluntary economic exchange

And tell us all why capitalism is in and of itself good.

good because it causes fastest economic progress. China just switched to it and now has fastest longest sustained growth in human history!!


Without earnings or profits all products stay in the market place and we stay in the stone age.

With profits we know which products the people like best or which ones improve our standard of living most. This is how we got from the stone age to here.

A liberal is a liberal merely becuase he lacks the IQ to understand capitalism

 

[EdwardBaiamonte]

that business corrupts politics,

of course this can only happen if there is liberal government with lots of power that business wants to exploit.

With Republican capitalism you have limited government of no value to business. Business then has to survive by offering the best products and the best price in the world to consumers.

 

[georgephillip]

that business corrupts politics,

of course this can only happen if there is liberal government with lots of power that business wants to exploit.

With Republican capitalism you have limited government of no value to business. Business then has to survive by offering the best products and the best price in the world to consumers.

Of course without government (the Public) there is no business (the Private)

"Enron dwarfs the momentous insider infamies of the Gilded Age and the Jazz Age. But it is also special for other historical reasons. It signals a crisis in modern conservative thinking and politics -- a crisis that has less to do with bad character than it does with scandalously bad federal policy.

"Enron is the belated culmination of the age of Ronald Reagan, George Bush the elder, and Newt Gingrich.(Not to mention Slick Willie) It stands as a monument to the era of deregulation and laissez-faire business politics that has endured for more than 20 years."

A Scandal for our Time:

 

[EdwardBaiamonte]

Of course without government (the Public) there is no business (the Private)

1) Republicans are not anarchists; who's talking about no government, just government designed to promote capitalism not to get in bed with industry as liberal socialist fascist Obamacare does

2) there was business before government, for example, the first time two farmers decided to build a path to each others farms to exchange goods or the first time 2 hunters decided to exchange meat..

"Enron dwarfs the momentous insider infamies

how perfectly idiotic !!!!!the beauty of Enron is that in was one company in a world or perhaps 100 million companies so it dwarfs an ant at best. What is momentous is the governments of Hitler Stalin and Mao that killed perhaps 100 million.

 

[Rshermr]

Why don't you give us all your definition of capitalism.

peaceful, voluntary economic exchange

And tell us all why capitalism is in and of itself good.

good because it causes fastest economic progress. China just switched to it and now has fastest longest sustained growth in human history!!


Without earnings or profits all products stay in the market place and we stay in the stone age.

With profits we know which products the people like best or which ones improve our standard of living most. This is how we got from the stone age to here.

A liberal is a liberal merely becuase he lacks the IQ to understand capitalism

peaceful, voluntary economic exchange, says ed.

Well, ed, me boy, you need to take a bit of time studying the definition of capitalism. There is a whole lot more to it than that simple statement.
Like, for instance, the whole concept of the market system, and what a market system requires to work properly.
If that is all that there is to it, then what is Canada? What is Germany? What is most of Europe for that matter.
What you have defined is nothing. If those are the requirements, then what you just defined is Libertarianism, in its fantasy definition.

good because it causes fastest economic progress. China just switched to it and now has fastest longest sustained growth in human history!! Says ed.

Ed, perhaps you should let the Chinese government officials know of this switch.
Here is the definition given by eHow: China's leaders call their economic system "market socialism."
Economies generally grow fastest under socialist control, or some other system of central planning. No judgment, here, ed. Just the way it is. They generally do not continue to grow at that rate, and I do not suggest that it is the best economic system over the long run. But, ed, you need to stop calling the Chinese economy capitalism. Makes you look stupid. The Chinese economy grew very fast because the central planners took business models from a number of economies, and determined how best to set things up.
But, the standard of living, for the working class, is abject poverty. Do you really want to suggest it is a great model?

Without earnings or profits all products stay in the market place and we stay in the stone age. Says ed.

Not at all sure why you think this needs to be said. Of course, you need the opportunity to make profits. But, ed, profits happen because of demand. The consumer determines what he will spend and on what.

A liberal is a liberal merely becuase he lacks the IQ to understand capitalism, ed says.

After this post, I would suggest you stop talking about the IQ of anyone. In poor taste, and your post proves how little you actually understand.

 

[EdwardBaiamonte]

If that is all that there is to it, then what is Canada? What is Germany? What is most of Europe for that matter.What you have defined is nothing.

if one farmer agrees to peacefully and voluntarily exchange some his wheat for some of his neighbors corn they have conducted quintessential capitalism. The more the government introduces liberal force or violence primarily with taxes, regulations, confiscations, the less capitalism there is. THe USA has the most capitalism and wealth, Europe has less, and Cuba has the least. Is that really over your head??

NOw even you can understand what capitalism is.

 

[EdwardBaiamonte]

Ed, perhaps you should let the Chinese government officials know of this switch.

obviously they know about about since they switched course 100% in 1979!!! See why we say a liberal will be very very slow????

 

[EdwardBaiamonte]

Economies generally grow fastest under socialist control, or some other system of central planning.

yes and Florida/ CUba is a good example or east/west germany or Israel before and after 1999, or the USSR or Vietnam under communism.

See why we are 100% positive a liberal will be an idiot!!! Sorry but what explanation is possible????