Wall Street is greedy?

YoungJoonKim

Electoral Member
Aug 19, 2007
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Wall Street is greedy?
Hardly UNlikely. Perhaps neo-con republicans forgot how free market works...its greed, money, and victory. Yet, McCain the Son of Bush comes out and tell American people GREEDY WALL STREET DID IT! WAH! It makes me wonder how far he was taught in his naval academy (lol), other than deception, in regards to er..economy. Obama cannot be excused for this as well.

It is the greed & competition to win that feeds capitalism and its wealth. Its the fuel of capitalism and growth.

Without greed & competition, there is no research & innovation from independent/corporate mechanisms. To blame Wall-Street for their basic, the very basic, purpose is outrageous. If the American government ever thought of "export vs import" theory and how trade deficit could mean devasting for the country, how unregulated warfare could be holocaust during a conflict, how unchained lion would rip a unarmed and unsuspected human, and how social and intellectual decay would stupidify the entire nation into brink of civilized nation's collapse.

On the other hand, other developed nations workked trying to find a medium between socially controlled market (health care) and independently controlled market (private firms), America insisted on private, private, private to avoid responsibility. Without knowing its full implication, American people voted neo-conservative controlled government two consecutive terms leading to this world-wide disaster.

Time after time has America's history told mistakes after mistakes of American market such as Great Depression, America once again faces a recession proceeding to depression--possibly. We can't have a president who crusaded and voted with Bush 90% to deregulate and dissolve the regulation set by F.D.R. which was quiet sufficent of setting up the market for America. Republicans like Reagan destroys America.

Even Theodore Roosevelt himself supported public health care system while fighting the WAR with a REAL RIFLE while McCain hid behind his little aircraft and shut down out of his own misjudgment and opposes public health care system. If he wants to really reform, REFORM HEALTHCARE BY CRUSHING MONOPOLY HELD BY HEALTH CARE INDUSTRY AND MAYBE BREAKING UP OIL GIANTS AND OR WAL MART.
 

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
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Regina, Saskatchewan
This thread is formed as a question (?) but perhaps is should be stated as a statement (!)

Wall Street is greedy? vs. Wall Street is greedy!

If it wasn't greedy, I don't think it would work. People don't roll the dice on stocks and bonds
and such to try and make as little profit (or no profit) as possible. No greed = no stock market.
 

YoungJoonKim

Electoral Member
Aug 19, 2007
690
5
18
If it wasn't greedy, I don't think it would work. People don't roll the dice on stocks and bonds
and such to try and make as little profit (or no profit) as possible. No greed = no stock market.

My point precisely. Adam Smith himself said greed is a necessity for a functional capitalism. What he didn't mention was bad greed like Cartel, price fixing, and outrageous exploitation and this is when we, the people, must do our part. Fix and hold accountable of our business through not restriction but oversight and enforced rules to keep them from going wild. Think of our market as a child, growing and experiencing and yet never actually reach maturity point. We need a constant and never hesitating discipline of our market so that we don't fall into depression like the one during 1929~1930s.
 

darkbeaver

the universe is electric
Jan 26, 2006
41,035
201
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RR1 Distopia 666 Discordia
My point precisely. Adam Smith himself said greed is a necessity for a functional capitalism. What he didn't mention was bad greed like Cartel, price fixing, and outrageous exploitation and this is when we, the people, must do our part. Fix and hold accountable of our business through not restriction but oversight and enforced rules to keep them from going wild. Think of our market as a child, growing and experiencing and yet never actually reach maturity point. We need a constant and never hesitating discipline of our market so that we don't fall into depression like the one during 1929~1930s.

Where is the link to that Adam Smith quote Young?
 

YoungJoonKim

Electoral Member
Aug 19, 2007
690
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18
well, I am just quoting from my economic class study based on Adam Smith and his ideals.
Can't really quote it since I never read his work :D
Nonetheless, its necessity of greed in our market is true...really true.
 

darkbeaver

the universe is electric
Jan 26, 2006
41,035
201
63
RR1 Distopia 666 Discordia
well, I am just quoting from my economic class study based on Adam Smith and his ideals.
Can't really quote it since I never read his work :D
Nonetheless, its necessity of greed in our market is true...really true.

Smith says a lot about self interest but never uses the word greed. Self interest is not greed as Smith makes clear in his writings. Self interest is the intelligence to know enough to leave some trees in the forest leave some fish in the seas and not to kill the goose that lays the golden eggs.
Wall Street only pretends to worship Smith who's words they have twisted for thirty-five years.