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1 SidewaysQuark  Thu, May 17, 2012 1:03:43pm
This is the financial system that Republicans want us to believe is not only NOT broken, but needs LESS regulation as it is.

No, they'll make some sort of convoluted claim that this kind of thing happens because we regulate banks too much, and that if we were only to invoke the specter of Ayn Rand, the wrongs would immediately right themselves spontaneously.

2 celticdragon  Thu, May 17, 2012 1:55:12pm

re: #1 SidewaysQuark

No, they'll make some sort of convoluted claim that this kind of thing happens because we regulate banks too much, and that if we were only to invoke the specter zombie of Ayn Rand, the wrongs would immediately right themselves spontaneously.

Fixed.

3 Romantic Heretic  Thu, May 17, 2012 2:16:07pm

It's what happens with any religion. Anything done for religious reasons is good, and anything not approved by the leaders of the religion is evil.

As members of the clergy of that religion known as 'capitalism', although like many followers of religion they don't really understand said religion, the people at Wells Fargo feel justified in doing things like this. Much like the pedophile priests feel justified, and like the pedophile priests the hierarchy will close ranks rather than admit members of their clergy can do evil things.

It's always easier to let other people suffer than to admit that a mistake is made. Especially when your power depends on being correct in your field of expertise.

4 Amory Blaine  Thu, May 17, 2012 3:14:02pm

What a terrible tragedy.

5 Shiplord Kirel  Thu, May 17, 2012 5:55:21pm

This Kind of War by TR Fehrenbach is one of the best books about the Korean War. Fehrenbach devotes a fair amount of attention to the North Korean army's conduct during its initial advance through South Korea. When they entered a village, the Norks rounded up any local associates of the old regime who had not been prudent enough to flee. These included minor officials, priests, policemen, and, of course, bankers and money-lenders.
Many of these were shot out of hand, but the police and officials were sometimes spared if they could make a convincing case that they could be useful to the new masters. Even priests were spared occasionally if they seemed able to keep the peasants in line. Not so for bankers and money-lenders. They were executed without exception, even though the reds were fully aware that their skills and knowledge might be useful. In the ruthless calculus of communism, the good will engendered by shooting them far outweighed any benefit that might result from keeping them alive. Communists all over the world repeated this same pattern, until the needs of power led them to raise up their own system of corrupt exploiters.
Of course, communism was an evil system. Its virtual collapse 20 years ago was a monumental triumph for civilization. But they did know how to make themselves popular in the short term.
Our current banksters might start to ask themselves if they might be even less popular than their Korean predecessors, and why.


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