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Blogs by Bill Flynn
Capitalism Is Power Badly Spent
10/20/2009 9:06:10 AM
The United States system of capitalism has the power and mass that equates to a 50 car train speeding down the track toward the little side-car of socialistic ideas and legislation.That mass and power will run down any attempt to quelch the fire in it's engine fueled by the bottom line. It's called MONEY and money is the fuel additive for that power.
Did the big banks on Wall Street take a hit because of their blatant sub-prime mortgage and hedge fund abuse? Last time I looked their stock was surging and their top executives were still receiving mega-million bonuses.
Will the insurance companies suffer losses due to any pending health care legislation? I doubt it!...because their power and greed has infested the halls of congress and the senate chambers...it's called lobbying. As we speak millions are being spent by the insurance company lobbyists to hold off or at least water-down the health care Public Option legislation.
Yes, capitalism is the American system and our way of life. The thrust coming from the boards of directors to their chief executives has no limits imposed on how much is a reasonable profit. The bottom line has no consious.
Many executives pass through Harvard Business School. (known a The B. School to that crowd) This is the school of bottom line where teaching any restraint on greed takes a back seat.
Of course, we all have some love of our capitalism system. After all it's the American way. But when it runs away from reason our pride in that system is overshadowed by discust. The recent events such as: insurance company practices relative to non-coverage of pre-existing conditions and their giving incentives to their employees to stone wall claims; The banking industries selfish use of the government insentive billions; the continuation of Wall Street traders getting millions as bonuses. All of these greedy doings have been exposed of late, but have most likely been on-going for years.
Has this greed within American business created an elite aristocracy who doesn't give a damn about the middle class? Do you think it will reach the point where some of them might say, "LET THEM EAT CAKE"?
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