It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
You don't remember when Gingrich gutted Glass Seagal? Numerous people predicted what would happen at the time, and it happened. At what point do you wake up to reality?
What you support is legalized fraud.
What you call for is nothing but the allowance of fraudulent business practices.
What you call for is no different than allowing a rapist to finish with his business before anything is done about it, and then explaining the crime off as a natural function.
There is no such thing as a free market. It is ignorance of reality.
Originally posted by nixie_nox
Libertarians are really just republicans in disguise who just don't want to be associated with the republican party.
Further, Rights are Rights, and if it is fraud, there need not be any regulation in order for the person who has been defrauded to turn to a government and pursue justice.
There never has been a free market, and one did not exist before the 1850ties in the U.S.. A banking system not only can survive under a proper set of regulations, banks have done just that for decades at a time.
It is the deregulation that creates the market fluctuations that take down those banks.
Notice how S&L's are doing fine.
That is because of the regulations put in place after Reagan's deregulation, which caused massive bankruptcies due to wide spread fraudulent abuse by those who were put in charge of those institutions.
The problem with your concept is that the people who robbed these banks through fraudulent means get to walk away with the money while those who thought they had put their money into sound investments pay for the corruption of the executives.
When a corporation dies, the executives who robbed that corporation still get to keep the money they stole through fraudulent means. Oh dear, my corporate entity died, I will now go back to my mansion and mourn with my trophy wife, and then right my memoirs about how brilliant I am.
What you fail to recognize is that the free market people you support set up this failure from the beginning, along with the bailout. They are the fascists. They are the ones all for business controlling government. Ever since the con of the free market began, those who support this new cleptocracy have been working to put corporations in charge of government.
I know a little about economic too, and it is more voodoo than science.
The real answer is not to grant banking charts to institutions that do not follow a specific set of laws to protect the depositors. Part of those minimal laws for a bank charter should be tying liability to the executives of those banks.
The banking system should be put back under control of the U.S. Treasury, and the fed res eliminated. Private institutions should not be given the level of privilege enjoyed by the fed res..
Even more, I don't think that under law, institutions that deal in areas like banking and insurance, which are critical institutions for the public good, should be allowed to function as for profit institutions.
People shouldn't be allowed to profit off of the misery of others. It is also time to put usury laws back in place, and restrict interest rates back to a reasonable amount. Our banking system has gotten by with far too much by abusing the privileges they are granted.
Originally posted by poet1b
reply to post by endisnighe
What nonsense, I never argued for use of any Marxist ideas.
It is the free market ideology that allows all this fraud to take place.
This is the fact you refuse to face.
Stop trying to pretend that you understand my perspective, because obviously you don't.
The purpose of government is to defend the rights of the individual , as per the beliefs of our founding fathers and John Locke upon whose theories our constitution was written. I have already provided a link which shows this.
The purpose of regulations is to establish what conduct is acceptable by a business, and what conduct violates the rights of the customers. When the business fails to follow the standard practices established by law, the offended party then has established legal recourse to hold the person behind the business entity responsible for their actions.
Do you understand the purpose of law?
No, we can't prevent crime from happening, but we can punish those who commit those crimes, and sometime we can even prevent those crimes from taking place, or stop them before they have progressed too far, and take the steps necessary to prevent the criminals from ever perpetrating those crimes again or at least make it far more difficult.
The concept of the free market is that the market system will police itself through magical voodoo economics. What happens is that the crooks still commit their crimes, but rarely have to pay for their crimes, and the victims have no recourse to recover what was illegally taken, or to have justice served. This is why it is known as voodoo economics, and it is against all the principles on which the U.S. was founded.
Once again, read what John Locke wrote. His influence is over the development of the U.S. constitution is not only well documented, it is bloody obvious to anyone who has bothered to read his treaties.
WHAT is so completely frustrating about this discussion is that none of you are simpletons, (neither are you as smart as you seem to think) and yet you refuse to read Locke, and engage in an intelligent conversation. Instead you would rather hurtle insults at me, or insult my intelligence, along with trying to put words in my mouth.
Originally posted by endisnighe
If you do no harm to another, you are not committing a crime.
We only have our own freedom to blame for our folly.
Originally posted by For(Home)Country
Originally posted by endisnighe
If you do no harm to another, you are not committing a crime.
Forgive me if I am nit-picking, but I must ask: how valid is this statement? Is it really true? Is something as petty as subtle manipulation count as "not harming" or is it indeed harm? This interests me because it can either make or break the very idea of freedom and liberty.
Tell me why kids in the west are allowed to be brainwashed by the media, by what we watch and listen to? Libertarians are up in arms if governments propose to ban something such as an extremely offensive song, video game, or show. After all, they are that it's our choice to subscribe to this supposed harmful material, not the state's job to regulate it. But is this so? Is it right to argue this?
Corporations employ massive teams of professionals in marketing and psychology. They know how to appeal to the masses. In the case of today's western youth, we are told sex is for pleasure, consumption is our end goal, getting what we want when we want is the dream we should all strive for. It is displayed in movies, television and music. Any true libertarian, I would imagine, would argue that these are the premises of freedom, our ability to choose. Yet somehow, our ability to chose has driven us to this materialistic-orientated society that has us all crying out for change.
We only have our own freedom to blame for our folly.