AuntiE wrote:
But, it did lead to more monopolies. Several regional large banks merged or were bought, ie. Wells Fargo buying Wachovia.
Let us talk about the phrase "to big to fail". Slightly long story. I do not remember which smallish city. I read this several years ago.A local church budget committee met. They took a serious look at fees, interest rates, etc. one of the committee members mentioned the small local bank he used. They entered into discussions with the smaller bank. Obtained better rates, less fees, better customer service etc. all this occurred during the banking issue. The budget committee informed the congregants of the change, why and new better benefit. They also recommended to the congregants, where possible, to consider changing their personal accounts or business if such was applicable. End result, Bank of America closed their branch in the community, local community bank grew but still retained their business model. Hmmm...who said they cannot fail if there is a viable alternative.
But, it did lead to more monopolies. Several regio... (
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Yes good point, when the power of the people can still have a chance to work. Which brings to mind, on this forum it is stated from many posters, from the right, that the left is anti-capitalism, another statement which it is simply untrue.
Their are many independents and democrats, who are completely 100% for capitalism, but capitalism unrestricted is riding a horse without reins.
Capitalism, in its idealized form is a wonderful thing, for awhile there it seemed to be working really great. Then the turn started and the curve took hold. Why?, because through the pure nature of capitalism, its one single purpose is to make more money. As companies grew so did their staff of lawyers and accountants working for them, for just that purpose. "People" soon became considered a commodity or property. We than saw the wall of business ethics that we had been building beginning to erode away. People who were just about to receive their benefits after twenty five or more years, were simply let go, with nothing but a pink slip.
Finally we saw the panicle of this erosion back when Enron was exposed...
What have we put in place since than? We cannot depend on the moral fortitude of capitalism and its zest to make money guide us in our business practices. People need to be protected, who fights for them? Our laws are what protects them, protects us.
The extreme right, who are mostly for big business and and unrestrained capitalism, spends millions for this purpose, they fight our government at every turn and endlessly demeans it. They want its people to turn their backs, and not listen.
If one turns their back on our government, than they simultaneously turn it on their country, because our government is who we are.