What Happened to Greed?
Progressive commentators usually berate business people for their greed. These days they berate them for sitting on tons of cash, refusing to invest and hire — in other words, for not being greedy enough. How can we integrate these two “faults” without resorting to an explanation like “regime uncertainty,” Robert Higgs’s term for an environment in which government creates such unpredictability that no one dare invest? In other words, the greedy business people would like to seek profit but are afraid to because they don’t know what inimical policies the government will come up with next.
Well, Progressive commentators, what say you?
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Whistler Blowers, Insiders
What happened to greed? Huh?? Is this is a joke? Greed is alive and well my friend.
The greed of our politicians lead to the destruction of the safeguards built into the banking system after the ’29 crash. The greed of Wall Street lead to *massive* fraud with fake loans, derivatives and other worthless products. The greed of the ratings agencies lead to fake ratings of AAA on Wall Street’s worthless products. The greed of our politicians once again made sure that Wall Street was not prosecuted — indeed …. the government and the banksters gave these corporate criminals more money to continue operating. Worse still, the government demanded we-the-people pay for this compound crime.
Greed is omni-present. Everyone in any position of power has their hands out. Greed has destroyed the dream that was once America.