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View Diary: Barack Obama to Fundraise for DNC w/ Latest Polls (307 comments)

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  •  Okaayyy, so this is a way of (0+ / 0-)

    turning an election into a market strategy for making money?  That's kind of weird, but not unexpected in our market-driven economy.

    I guess I'm glad I don't understand it, even if Obama's looking strong something just feels over the top about this.

    "Hope" is the thing with feathers-that perches in the soul-and sings the tune without the words-and never stops-at all. Emily Dickinson

    by juslikagrzly on Fri Apr 25, 2008 at 10:10:21 AM PDT

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    •  It's an attempt to tap into (3+ / 0-)
      Recommended by:
      3goldens, boatsie, kafkananda

      "the wisdom of crowds," who supposedly will exercise their best judgment as to what will happen if money is on the line.

      Posting a diary on the nomination? Pay your McCain Tax!

      by Seneca Doane on Fri Apr 25, 2008 at 10:28:12 AM PDT

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    •  think of it like (6+ / 0-)

      "one hundred quatloos on the newcomer"

      If you're old enough to remember the original Star Trek series, there was an episode - "The Gamesters of Triskelion" http://www.voyager.cz/...  where Kirk and his Star Ship crew were taken captive and forced to fight each other gladiator style in order that the "brains" controlling the planet could bet on who might win.

      I think that the show's writer viewed the betters similarly to how you may feel about this...there is a psychopathy to betting on something that has a moral/social/political component.

      But that's why Wall Street needs to be regulated because of how psychopathic the endgame of unregulated bets can get.

      In this instance, no one gets hurt if people bet on the candidates. When Wall Street bet on sub prime mortgages, lots of people got hurt.

      •  But Wall Street can rely on taxpayer bail-outs (3+ / 0-)

        where as the average citizen facing ballooning, heart-stopping mortgage payment and rate increases, shriveling home values, receding job prospects, vanishing 401(k) and IRA accounts, huge jumps in food, fuel and health costs, has yet to see any of their tax dollars being targeted to their rescue.

        Even if Wall Street happens to bet wrong on a candidate, they always have a variety of well-hedged options in play.  Retaining access and leverage to seats of power is never a problem.  They just switch their sizeable retainers to the lobbying and legal firms now acting as gatekeepers to whatever party and inner circle takes power.  They always secure a gold key to the tax-payer funded, power-wielding offices, it's just a question of where to direct the influence-buying cash and perks.

        Wall Street's top-level financial caste, W's base--the top 1%, has made sure to expand their safety nets, while also securing reduced government scrutiny, defanging enforcement and regulation, along with carefully limiting legal exposure to the 'We The Riff-Raff' caste of citizens. They carefully cultivate deep relations with the well-connected political decision-maker networks.  

        So, while these same financial caste members courageously call for for cutting our social safety nets, in the name of lower taxes (on them), they bang the bully pulpits for increased privitization so 'we' gain the 'benefits' of the almight 'Free Market' (which really is just dredging billions in public tax-payer funded program dollars into private shareholder profits).  

        Top leaders like Dick Chaney and John McCain see no problem in average citizens taking the brunt of risky Wall Street investment strategies gone bad, while eagerly bailing out and preserving the lifestyles and fortunes of their well-connected corporate cronies.  The Free Market's array of beguiling benefits aparently don't include safety nets or considerations for we lowly consumers, being stuck with impossible to control changes in financial markets, and holding contracts that are now totally unrealistic.

        We might well wonder what Chelsea Clinton has learned from her stint at a major hedge fund corporation, one that has sunk big dollars into Hillary's campaign.  She probably was given orientations showing how the levers of power and wealth really work.

        When life gives you wingnuts, make wingnut butter!

        by antirove on Fri Apr 25, 2008 at 12:45:06 PM PDT

        [ Parent ]

      •  psychopathy (1+ / 0-)
        Recommended by:
        eve

        we must be in the same field.

        "Hope" is the thing with feathers-that perches in the soul-and sings the tune without the words-and never stops-at all. Emily Dickinson

        by juslikagrzly on Fri Apr 25, 2008 at 02:13:13 PM PDT

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        •  no, unfortunately, I'm a retired (1+ / 0-)
          Recommended by:
          juslikagrzly

          institutional, municipal bond, salesperson, but I am interested in how and why psychopaths achieve power or possibly how non-psychopaths are turned psychopathic by the system through which they gain power.

          •  not that I'm an expert in psychopathy (1+ / 0-)
            Recommended by:
            eve

            but there's a pretty good bet it's a brain issue compounded by who knows what trauma.  They can be quite superficially charming.  I'm trying to remember the name of the prof who writes extensively on psychopathy---Hare maybe?  I'll google and return

            "Hope" is the thing with feathers-that perches in the soul-and sings the tune without the words-and never stops-at all. Emily Dickinson

            by juslikagrzly on Fri Apr 25, 2008 at 03:29:50 PM PDT

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          •  here's a link to his website (1+ / 0-)
            Recommended by:
            eve

            "Hope" is the thing with feathers-that perches in the soul-and sings the tune without the words-and never stops-at all. Emily Dickinson

            by juslikagrzly on Fri Apr 25, 2008 at 03:31:05 PM PDT

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