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Bank of America Corporation Message Board

  • wowgoner wowgoner Mar 6, 2009 7:20 AM Flag

    Capitalism is evil???!!

    http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_B/threadview?m=te&bn=1903&tid=631560&mid=-1&tof=-1&rt=1&frt=2&off=1#-1

    The above board discussions ended with the conclusion that the capitalism is evil, which I have hard time to accept.

    What is wrong is the argument? The argument start with greed is the root of all evils. The root of capitalism is greed; that is why we work so hard to create with wealth. Historical proofs show how we explore the world to find more gold; to enslave people for cheap labors; to enforce the drug trade to grab the wealth during imperialism time. Colonization, genocides to grab the land. That is why capitalistic countries are so wealthy.

    What is wrong with the argument???

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Hard to conclude:

      It reads like: anything fits me well is not evil; otherwise, it is.

    • The original definition of greed is an INORDINATE desire for things.

      There is CUT THROAT capitalism, in which some selfish persons engage.

      That's NOT the same as FREE MARKETS, which are an essential part of liberty.

      Free markets, with appropriate and reasonable oversight are the only way man can prevent himself from being essentially

      OWNED

      by the government.

      We are now partly owned by the US gov,

      soon to be fully owned,

      due to legislative and executive and bureaucratic changes taking place during this

      CAREFULLY

      CHOREOGRAPHED chaos.

      Even Sen. Byrd, a DEM and a Constitutional scholar, spoke up about the energy and other czars who are usurping (thru Obama fiat) power that OUGHT to be under the control of the legislative branch...and hence of the PEOPLE.

      We have shifted from control of US gov

      "We the PEOPLE...."

      to

      "We the STATE..."

      A soft form of tyranny, a Sick NeoSocialism of sorts.

      Free markets (capitalism) did NOT cause this crash.

      The crash could not have happened without quasi-GOVERNMENTAL organizations thru which banks were forced to give bad loans:

      FNN/FRE >

      CRA (under Clinton) >

      ACORN and related organizations and Congress >

      pressure on banks and businesses:


      Former Dem
      February 28, 2009 10:27 AM

      Under Carter we got the 'Community Reinvestment Act'(money for unqualified buyers); it was greatly expanded under Clinton. Groups like Acorn disrupted business at banks to force them to give more loans to unqualified borrowers. They filled the bank lobbies and tied up the time of the tellers - basically shut down their business - until banks gave in. Bush warned Congress early in first term that FNMA and FMAC were in trouble. Chris Dodd and other Dems (who we now know were getting some favors from these lenders) insisted that both lenders were fine.

      http://www.businessweek.com/the_thread/hotproperty/archives/2008/02/clintons_drive.html

      >>

      invention of "exotic financial instruments" (research Obama's campaign manager and the problems with Superior/etc.) >>

      ratings agencies rate crummy stuff AAA >

      AND Rules change in Mark to Market squeezes all companies/stocks...

      > Low interest rates

      > Housing bubble crash

      > Dems blame Bush tho he is on record with repeated and energetic WARNINGS that this could happen if the DEMS refused to ALLOW supervision of FNM/FRE.

      Just my opinion. Have thousands of pages/reference

    • The Bible is right again

      http://bible.cc/1_timothy/6-10.htm

      one verision:
      For the desire of money is the root of all evils; which some coveting have erred from the faith, and have entangled themselves in many sorrows.

      Basically all have the same principle

    • Human beings are more or less greedy; it is our nature.

      Are we all evil? All the culture we developed, including religion, are evil accordingly???

    • But the reality is...myself and probably everyone else here feels they deserve more if they work harder than their dead beat neighbor.

    • jst_another_married_gent jst_another_married_gent Mar 6, 2009 10:31 AM Flag

      Capitalism in its purest form is evil.
      Capitalism with a social responsibility is good.

    • Nothing is evil.
      You have to make things work for you. If not, then adjustment would be needed.

      Market economy brings great benefit to the society. But if it is unchecked, then it could wreak havoc.

    • Pure capitalism is a balance of greed and fear. Government bailouts for the rich remove the fear and pervert capitalism.

      • 2 Replies to gator0092002
      • Make a distinction between capitalism and free markets. A market-based economy is the most efficient way to create supply that satisfies demand. Planned economies are poor economies. Always. Every time. Look at history.

        Capitalism seeks monopolization of resources to drive up prices. It is the job of government to break up these trusts and keep markets competitive, assuring low prices and limited profits.

        A well-regulated marketplace is the key to America's prosperity. We lost our way with deregulation. Hence Thain's 35k toilet.

        Obama will restore the balance between public and private.

        We're on the mend.

      • Wow ! rewards for abuse of credit default swaps, rewards for selfishly pocketing short term profit on loose loans,rewards for blatant abuse of funds (via stock options, perks,lavish lifestyles at resorts,rewards for hiding these facts from their shareholders,falsifying statements while scavaging everything that's not bolted down, rewards for blatant embezzlement. The American dream is going into their pockets. The select few parasites indulging in extravagant lifestyles & are exempt from all laws, are pulling of the royal scam!!! We the people should have taken corporate funding out of campaigns long ago. Eliminate all lobbyists, both in Washington & the market. Put the Glass - Stegal act back in place . The Glass Stegal act was a law put in effect in 1933 to limit commercial bankers from converting to "wallstreet" investment bankers. This act was pulled out in 1999. We have a bunch of " loose cannons" running around spending trillions of our dollars in a bucket with all the same holes in it. The upper eschelon is no longer held accountable in courts of law. This is madness! The rate of spending is madnesss!!! We are talking 12 0's There won't be an America left. These are the same vulture who are shoving Nafta free trade, Outsourcing & ignoring the borders & the laws that govern workers down your throats. What they have accomplished is " Screw the American Worker." " We want higher profit margins at the top" It's a " Rich Buddy Fail Safe System" now. Only money runs , only money wins. The United States has been hijacked by a 2 party dictatorship, comprised of the top 2% of the wealthiest people in the country. What I'm witnessing is Treason !!! Feeding your fat pig buddies faces & gathering like rats looking for crumbs during this bailout fiasco is madness!! Both parties saw this as an opportunity to shovel in the fat. If these "aglutonous pigs" want to save their precious market they ibetter enforce some laws. There's no reg - show enforcement. people are allowed to short to infinity. Naked shorting is common place. Fail to delivers are not even reported. Nobody knows how many outstanding shares are in their stocks anymore. There's numerous yahoo finance bulletin board scams. Nobody is ever held accountable in courts of law. You are basically scaring off your retail investors. Who will you steal from now? yourselves? We the people have rules, laws & morals guidlines to follow, why are these elitists all exempt??????? I have lost all faith in this government, it's now rotten to the core. I'm so p'o'd !! What scares me is it may be too late. They are stealing at a whole new level now. A level never heard of in the history of man. Wsahington has to stop the big spend. Take all the gloden parachutes back before we storm the place! Do not spend any more money till you put some rules into place. These parasites in these companies the boards of directors, the cfo's & the ceo's have become blood suckers & they are milking the American out of the American dream. It's progressively getting worse . Not better. We started out borrowing 500 Billion from communist China, now I'm afraid to look. America is being looted & pillaged by a handfull of greedy pigs. Lynch them! I'm not kifdding! Where's right & wrong, morals,integrity??? where??%

    • Capitalism is not evil. Crony capitalism is.

      C.capitalism will not only make a few elites rich but it will impoverish many.

      The no-bid contracts, insider info trading, Paulson bailouts etc are examples of crony capitalism.

      You cannot be rich when your neighbors around you are getting poorer and poorer.

    • Hard evidence difficult to deny??

 
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