Thursday, July 29, 2010

Regulated and Deregulated Capitalism.

Yesterday, I was watching a documentary called Plunder. A documentary created by Danny Schechter, A journalist who had written many good books, I have not read yet. But I hope I will get the chance to. In the Documentary he discuss the crimes committed by wall street criminals, which includes giving loans to people who could not afford to pay them back, tricking people and taking all of their hard saved money, away in their schemes.

At the end of the documentary, he suggests that we have economical reforms that would prevent this crisis from happening again. But here the problem, we have tryed that in the past and it never works. Reforms do not work because you cannot reform capitalism or regulate it. Capitalism is a system based on greed and you cannot put a human face on greed. Comrade BJ Murphy, say it best.

The point is we need a new system and fixing the old system that is tearing down would not help. Listen to how he compare regulating capitalism, to fixing a crumbling road that can not be fixed.

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