This summit in Washington is bringing up some interesting proposals. The Europeans, especially the French, are suggesting that our capitalist system needs more regulation to avoid huge corporate salaries, bonuses and other abuses. America has always scorned the highly regulated European system but, let's face it, the reason they were so severely affected by our financial crisis,is that we have intertwined our system with the entire world's. Because of this the American system and it's abuses has affected the entire world.
I have always said that capitalism is greed driven and when you consider all the abuses that have been apparent in it for decades, you can see the need for regulation. If corporate America were not so greedy, a free market would work. But it's greed has driven the rich to be even richer and the poor to be even poorer and the middle class to rapidly disappear.
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5 comments:
I couldn't agree more! I just hope over the next few years we'll be successful in getting more control.
That will depend on congress.
Because of pressure from big business lobbyists they removed that regulation and now we are paying for it.
Sometimes it seems that greed drives every facet of our society. That, and a sense of entitlement and "I want it NOW!" No wonder we're in this mess. But, I'm hopeful that we will emerge a better country, with better perspective. We can't continue to crumble and take the rest of the world with us.
What really worries me is that the younger generations have not saved anything for their retirement and spend every dime they get their hands on for junk.
They never want to wait for anything. I wonder what they will live on when they are ready to retire?
amen and amen.
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