Thursday, December 18, 2008

And tell me, at whose expense?

It's one scandal after another. In America's unfettered capitalist money-making system. Except now lots of people are losing money. Because there was no regulation. Little, if any, oversight. Really, capitalists can't be trusted. Because they're so greedy. It's alleged now that financier Bernard Madoff bilked investors of $50 billion. Yes, that's billions, not mere millions. Imagine that. The insatiable appetite of Madoff. He couldn't settle for a mere $1 billion. Yes, folks, the scandals come one after another. You've been reading about 'em for years now. Wall Street is going under. The banks and lending institutions and insurance companies are folding. The Detroit automobile industry is flirting with bankruptcy. Investors are losing money all over the place. Because the system was allowed to run rampant. The big money interests bought their way into the seat of power. Washington. They bought deregulation. The regulators looked the other way. The battle cry was for less and less government. Government was portrayed as the enemy. Get government out of our lives, they bellowed. Give free enterprise free rein. It's the American way. The righteous way. Yes, everybody should be allowed to make a buck. Even $50 billion. And tell me, at whose expense? --Jim Broede

1 comment:

skericheri said...

Please correct me if I am wrong. This looks totally unbelievable.

From: http://www.census.gov/population/www/popclockus.html

According to the U.S. Bureau of the Census, the resident population of the United States, projected to 12/19/08 at 07:00 GMT (EST+5) is..................................... 305,913,305

Bernard Madoff tried thought
he was entitled to.................................$50,000,000,000

Talk about wanting a piece of the pie.