Tuesday, September 16, 2008
Yes, MC McCain, that's just what we need.
The Manchurian Candidate says this morning that we need a Blue Ribbon Commission to investigate the Wall Street mess, much like the Commission that "investigated" the intelligence failures around 9/11.
Yes indeed, MC my friend, that's exactly what we need. A Commission to insure that all genuine problems are forever hidden from sight, all genuine criminals are protected and promoted, a Commission to find a few suitable innocent dummies to fall on their swords. Another commission to insure that criminals and incompetents shall reign forever and ever and ever, driving us off the cliff even faster. I didn't think that was possible, but you're the expert in subversion, the master of collapse. I bow before your superior knowledge, Comrade McCain. Amen.
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Dropping the snide and turning deadly serious, here's what we really need. We need to abolish the stock exchanges, abolish the entire system of shareholding, prohibit fancy derivatives, and let companies be bought and sold only in one piece. It has been blazingly obvious since 1929 that the stock exchange serves only as an "occasion of sin", a place where fraud and con games are entirely too easy to perform, a place where primitive mob emotions can destroy a nation.
In the last few years, many big investors like state pension funds have already made this change. They have abandoned shares and brokers, instead buying companies outright and running them for a profit. This works better, as I noted here. When the motive of a company is directed solely toward making a profit, the company behaves well. When the goal is raising share prices, dishonesty abounds.
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In simple terms: Pleasing the customer is healthy. Pleasing the shareholder is unhealthy. ¶ 7:54 AM
Yes indeed, MC my friend, that's exactly what we need. A Commission to insure that all genuine problems are forever hidden from sight, all genuine criminals are protected and promoted, a Commission to find a few suitable innocent dummies to fall on their swords. Another commission to insure that criminals and incompetents shall reign forever and ever and ever, driving us off the cliff even faster. I didn't think that was possible, but you're the expert in subversion, the master of collapse. I bow before your superior knowledge, Comrade McCain. Amen.
= = = = =
Dropping the snide and turning deadly serious, here's what we really need. We need to abolish the stock exchanges, abolish the entire system of shareholding, prohibit fancy derivatives, and let companies be bought and sold only in one piece. It has been blazingly obvious since 1929 that the stock exchange serves only as an "occasion of sin", a place where fraud and con games are entirely too easy to perform, a place where primitive mob emotions can destroy a nation.
In the last few years, many big investors like state pension funds have already made this change. They have abandoned shares and brokers, instead buying companies outright and running them for a profit. This works better, as I noted here. When the motive of a company is directed solely toward making a profit, the company behaves well. When the goal is raising share prices, dishonesty abounds.
= = = = =
In simple terms: Pleasing the customer is healthy. Pleasing the shareholder is unhealthy. ¶ 7:54 AM
