Capitalism is not bad, it can be pretty good. Unfortunately, what Ayn Rand, Ronald Reagan and Alan Greenspan's philosophy of absolute libertarianism for big business has brought us is not free markets, but "cancer-capitalism."
It meets the definition of having three malignant properties. Derivatives schemes began as uncontrolled growth on Wall Street, it invaded mortgages, financing and credit, which effected our entire economy and most aspects of our lives and culture, including health care and unemployment.
We need regulation. We need it on Wall Street to prevent wild speculation, and we need it on K Street to prevent the unfettered influence of special interest groups on Washington.
This is not Socialism, Communism, or Marxism. It's common sense. Some people seem to think that the Revolutionary War was just about King George III, but it was also about the abuses of mercantilism, monopolies like the East India Company, and the super rich in Parliament. America used to be about fairness, equality and justice. Its time to stop being afraid of government and start using it to restore balance to the system and protect the little guy again.
You don't play a football game without rules and referees, how can you expect to have competition in the markets without regulation? Where's Teddy Roosevelt when we need him?
Read more or watch the Frontline documentary about Brooksley Born, head of the Commodity Futures Trading Commission who tried to warn us back in the 90's. http://www.pbs.org/wgbh/pa
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