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View Diary: Taibbi, Naked Capitalism Re: Our Bipartisan "Fraudemocracy" (261 comments)

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  •  It's been obvious for years (19+ / 0-)

    that business ethics were ignored by many companies in their quest for the quick buck.

    Almost every ad running on tv has a caveat in tiny letters at the bottom telling us that the commercial is a sham. Warranties have so many loopholes as to be nearly worthless and both auto and health insurers have been using rescission to screw people out of their benefits for years. (the subject of the bestseller by John Grisham, The Rainmaker in '95)

    And starting in the 90's we saw liar loans become common. If someone could fill out an application they got a credit card, no questions asked. There were stories of college freshmen with a dozen cards or someone starting a small business financed solely on credit card debt and the lenders knew it, profited by it and would still be doing it if the economy hadn't collapsed.

    Fraud permeates this system from top to bottom and if Americans don't insist on cleaning up this mess, those businesses that are ethical are going to start wondering if they can continue to compete against a stacked deck.

    "The human eye is a wonderful device. With a little effort, it can fail to see even the most glaring injustice." Richard K. Morgan

    by sceptical observer on Sun May 02, 2010 at 07:28:07 AM PDT

    •  Unfortunately, we need to be a democracy again. (18+ / 0-)

      or we keep losing. We need to get money out of politics, as best we can.

      All of Obama's/Dems big "reforms" cater to the established way (the corporate monopoly and inequity gap ever growing, like that oil slick) and give a few crumbs to the lesser thans (all but the rich)...

      They then call this reform. (Health care, financial, energy... oops, that last one is just heartbreaking, his signing onto drill, baby, drill... spill, kill...)

      Look at his most recent 'strong' plea to reform campaign financing since the SCOTUS fuck-us decision. Well, that aint nothing. It was already corrupted and broken, under the very system he was happy to use to run for office... raking in the bucks from Wall Street, etc. He never stopped to say, gee, publicly funded campaigns are the only way out of this obscene mess o money to buy us/them/we to do their bidding.

      Instead, he and other Dems, who are supposed to be for the people, buy into and perpetutate the status quo (which keeps getting worse) established "solutions" and "reforms", which they pump up with rhetoric to make them sound better than they are. They are chipping away at the old block, while the old block is blooming like a cancer, regardless. Our reforms are spit in the ocean (sadly, what we have left of it).

      I mean, case in point - what was so good about capping credit cards at ... what was it, 30 % interest rates (amendment to last bankruptcy "reform" bill, which Obama failed to vote for and got shit for, but what the fuck, that was no solution anyway. Laughable. 30 percent is robbery not relief. Now theyre trying for 14%... still too damned much!

      We need publicly funded campaigns, first and foremost. Without it, the monopolizers influence pedaling far outpaces our little nickels and dimes. They keep winning. Theyre winning more, thus getting more powerful because its not a clean slate each year like a sports championship win... it's a growth win, a mestastacizing cancerous growth win that just builds upon the negatives.

      Thus, it has to be stopped where the funding begins.

      Should a "progressive" Dem blog dwell in the safe zones of a tame party, or should it drive a tame party to break out?

      by NYCee on Sun May 02, 2010 at 08:03:56 AM PDT

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