“The CEOs of 10 Wall Street firms that either failed or received taxpayer bailouts were paid an average of $28.9 million per year in the years leading up to the Wall Street meltdown”
Check out the article here
Good article, and better yet it offers actual ideas for solutions to prevent this from occuring in the future. We all recognize that the current system is inherently broken-
Bonuses Put Goldman in Public Relations Bind
The next (and more important long term) step is fixing it. Wall street is founded on and attracts people infatuated with the idea of making (lots of) money, so expecting that to inherently change based on the current economic condition is completely unrealistic. As long as short term avenues to wealth at the long term expense of others are available, people will find a way to exploit that for themselves. It is human nature. Human beings respond to their environment in rational and predictable ways. (the “rational model” is the basis for most current fields of economics) The real challenge (and solution) is to find ways to create incentives by which to channel the effort (and talent) of those infatuated with the idea of personal gain, into using their talent in a manner that is beneficial to the greater good. All of the suggestions given in the article are a good place to start- but I don’t really believe they go far enough to prevent savvy businesspeople from exploiting loopholes in the system. Unfortunately I think there are a number of areas in modern-day first world nations where it’s becoming obvious that democracy is no longer a viable and functional system, and our modern day financial sector is one of them. Do you guys have any better solutions? Tar and feathers seems like it could go a long way in my book. ; )
“We now believe that Monsanto has control over as much as 90 percent of (seed genetics). This level of control is almost unbelievable,” said Neil Harl, agricultural economist at Iowa State University who has studied the seed industry for decades. “The upshot of that is that it’s tightening Monsanto’s control, and makes it possible for them to increase their prices long term. And we’ve seen this happening the last five years, and the end is not in sight.” Read the whole article here…
Simply more proof that allowing humanities best interests and big business to mix is a recipe for disaster. It is shocking how much of our lives we allow big business and private (for profit) companies to take a role in. Privatization and big buisness are (purely) about money. Money serves as a very good motivator for getting things done- namely getting things done that allow you to earn more money. If your providing a good or a service- awesome. The better you fix my toilet the happier I am, and the more likely I am to call you the next time my toilet needs fixing. Go private plumbers! But when it comes to decisions that have the ability to affect large amounts of people… Nope, I don’t want decisions being made on the basis of profit to earnings ratios. It has been seen time and time again that there are plenty of people in the world willing to place their own private gain over the common good of us all. In fact this is how most businesses function. It is ridiculous to believe that any of the worlds top 100 CEO’s gives a shit about anyone other than themselves and perhaps a few people within their immediate circle. CEO’s (and politicians) with altruistic intentions do not rise to the top of their chosen proffesions. Yet as often as we see this happen over and over again… We steadfastly refuse to create and enforce laws that remove the ability of private companies to fuck us over again and again. Will we ever learn?
T.S. Elliot totally had it right-
“This is the way the world ends
This is the way the world ends
This is the way the world ends
Not with a bang but a whimper.”
intro5pect tour in january 2010!!!!
i just added the shows that we’ll be playing this coming january! Show Info Grab all of your friends and come on out to our shows because this is going to be a blast. joining us as a special guest on guitar is none other than brad logan (f-minus/leftover crack). we decided to do a mini tour because we missed being on the road and missed seeing everybody at shows. plus it always provides for some much needed inspiration before we get back to work on our forth coming full length this spring.
we are going to be doing tons of updates to show you guys what it’s like for us getting ready for a tour. so if you don’t want to miss out on any of the action be sure to become a fan of intro5pect on facebook:
and follow us on our twitter where we update with all kinds of interesting tid bits:
we’ll be adding pictures, videos, political rants and just plain updates as we inch closer and closer to our tour. keep an eye out and an ear to the ground for more news.
love & respect,
Just sitting around makin’ a blog and listening to DAN, the best of all of the bands no one has ever heard of.
Hey everyone, heres an interesting blog about womens place in the world. Check it out…