Parasitic Capitalism

empirex

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Max and Stacey address some issues, like bankers openly admitting to rigging markets and "ripping off granny" but nothing get's done.


[video=youtube;ZyNN1PYQ1kw]http://www.youtube.com/watch?feature=player_embedded&v=ZyNN1PYQ1kw#![/video]


Monopolies, oligarchy, the striving for domination and not for freedom, the exploitation of an increasing number of small or weak nations by a handful of the richest or most powerful nations — all these have given birth to those distinctive characteristics of imperialism which compel us to define it as parasitic or decaying capitalism.

-- Lenin, Imperialism: The Highest Stage of Capitalism (1914)
 
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Not watching 25 minutes on mobile. So why were the bankers not charged by the SEC?
 
Not watching 25 minutes on mobile. So why were the bankers not charged by the SEC?

The system is corrupted. It's broken. The foxes run the hen-house, it's that simple.
If laws are broken, the laws are rewritten.
 
The system is corrupted. It's broken. The foxes run the hen-house, it's that simple.
If laws are broken, the laws are rewritten.

Er, the SEC charges traders on a daily basis. To quote Parks and Recreation - LITERALLY! Daily.

So what offences under SEC regulations did these traders commit and why what excuse was given to not prosecute them?
 
What offences? There is nothing wrong, no crashes, no printing money from thin air and charging interest.

Everything is ok in the world.
 
Er, the SEC charges traders on a daily basis. To quote Parks and Recreation - LITERALLY! Daily.

So what offences under SEC regulations did these traders commit and why what excuse was given to not prosecute them?

I'm not talking about small fish here. The big boys.

In this vid they don't go into detail. It's a semi-breakdown of the system.
Programs in the past have dealt with specific cases, Libor, MF Global, etc.
 
I'm not talking about small fish here. The big boys.

In this vid they don't go into detail. It's a semi-breakdown of the system.
Programs in the past have dealt with specific cases, Libor, MF Global, etc.

Libor was manipulated, we know this, and those responsible are being taken to task legally. Man Financial's Corzine and O'Brien are being taken to task for using client money to cover shortfalls. What you're talking about is fraud and is investigated and dealt with or sometimes even swept under the carpet, low and behold, as with many other sorts of crimes. These are issues found in all money systems and political systems and is 9/10 a political issue and not a market dynamic one. Your thread title is "parasitic capitalism" implying that capitalism is responsible for greedy law-breakers, which is patently false.

As an active capital markets participant for many years, I'd love to know which traders were let off scot-free after committing SEC-related offences or even fraud, and then what that has to do with capitalism? I really think you're barking up the wrong flower-pot here. Capitalism encourages transparent trading so I'm at a loss as to how this could possibly be pinned on capitalism, even if it is true...
 
Libor was manipulated, we know this, and those responsible are being taken to task legally. Man Financial's Corzine and O'Brien are being taken to task for using client money to cover shortfalls. What you're talking about is fraud and is investigated and dealt with or sometimes even swept under the carpet, low and behold, as with many other sorts of crimes.

You have just spelt it out quite nicely yourself -- parasitic capitalism; raping the small guy to enrich the elite.
Money was used (stolen) from clients accounts never to be seen again. It is not fraud, it is theft plain and simple!

These are issues found in all money systems and political systems and is 9/10 a political issue and not a market dynamic one. Your thread title is "parasitic capitalism" implying that capitalism is responsible for greedy law-breakers, which is patently false.

As an active capital markets participant for many years, I'd love to know which traders were let off scot-free after committing SEC-related offences or even fraud, and then what that has to do with capitalism? I really think you're barking up the wrong flower-pot here. Capitalism encourages transparent trading so I'm at a loss as to how this could possibly be pinned on capitalism, even if it is true...

That is exactly the point.
You're attempting to categorise and isolate; when in fact it's all of the above.

It's not capitalism DJ, it's decaying capitalism, when the system is broken, as it is now.
When the "greedy law-breakers" are politically connected and can do as they please within the system.

Remember just because you didn't break into grannies house and physically steal her money doesn't somehow make it less of an offence.
 
You have just spelt it out quite nicely yourself -- parasitic capitalism; raping the small guy to enrich the elite.
Money was used (stolen) from clients accounts never to be seen again. It is not fraud, it is theft plain and simple!

What does this have to do with capitalism (free enterprise and private ownership)? How would it not happen in a socialist or communist system?
 
What does this have to do with capitalism (free enterprise and private ownership)? How would it not happen in a socialist or communist system?

Never said it couldn't.

But there are supposed to be checks, balances and accountability in a capitalist system.
A decayed and corrupted capitalist system is what we largely see today.

This concept stems from Lenin's quote; I've updated my original post accordingly.
 
I still fail to see what this has to do with capitalism? Capitalism has nothing to do with checks and balances - it is a free market economic approach. Politics and laws dictate how this is enforced, not capitalism.

You still do not understand what it is you're arguing about...
 
I still fail to see what this has to do with capitalism? Capitalism has nothing to do with checks and balances -

:wtf:

it is a free market economic approach. Politics and laws dictate how this is enforced, not capitalism.

You are nitpicking :wtf:

Those laws are being ignored.

You still do not understand what it is you're arguing about...

No, you just nitpicking the **** out of this topic.
 
But there are supposed to be checks, balances and accountability in a capitalist system.
A decayed and corrupted capitalist system is what we largely see today.

There's supposed to be checks and balances in any system. What does capitalism have to do with it?

And how would changing from capitalism help? If the problem is lack of accountability, or regulators not enforcing the laws, how will the system not being capitalist help?
 
There's supposed to be checks and balances in any system. What does capitalism have to do with it?

Because that is the system we (US, UK, SA, etc.) work within.

And how would changing from capitalism help? If the problem is lack of accountability, or regulators not enforcing the laws, how will the system not being capitalist help?

No one said anything about changing to any other system.

Come on man, my point is simple. The capitalist system has been corrupted; the authorities are in bed with the banks / big business. All that's ever achieved are fines, which mean nothing when you can steal and manipulate your way to more money.

This not a "capitalism is bad" thread; just like taking aim at bad governance by the SA government would not be an attack on the model of democracy.
 
You're going on and on about enforcement of laws, not capitalism. You can't seem to grasp the difference here...:wtf:
 
They're intertwined :wtf: :wtf:

Er, no they're not. Capitalism is adopted in very different forms around the world. That's like saying that because you don't like rum and raisin ice-cream, ice-cream is therefore bad.

It's a childish argument and a fscking pathetic thread title to say the least. You still haven't bothered to explain to me what laws were breached in the claims in the video, nor what action was swept under the carpet. And then you'll need to explain to me how sweeping something under the carpet is the fault of capitalism?
 
Er, no they're not. Capitalism is adopted in very different forms around the world. That's like saying that because you don't like rum and raisin ice-cream, ice-cream is therefore bad.

It's a childish argument and a fscking pathetic thread title to say the least. You still haven't bothered to explain to me what laws were breached in the claims in the video, nor what action was swept under the carpet. And then you'll need to explain to me how sweeping something under the carpet is the fault of capitalism?

What the f*** is wrong with you man???

Do you want to spout nonsense all day long, or do you actually think you are being clever, and adding to the debate. Are you that childish that you refuse to even acknowledge the point raised and instead choose to argue ridiculous semantics.

I don't even know where to start with you.

Someone says: "That colour is brown." -- DJ responds: "No it's not, it's orange and blue." :wtf: :confused:

- I told you what form of Capitalism I was referring to (US, UK);

- The laws that govern those economic models of capitalism DO NOT allow for fraud, theft, insider trading, etc, etc.

What's fcking pathetic is your ability to either grasp this very basic concept; or just as utterly pathetic your ability to debate without being obnoxious or deliberately difficult and petty.

Parasitic capitalism as described by Lenin -- that is what we see in the markets today, corptocracy.

Rules do not apply to the big players. Steal money, insider trading, empty segregated accounts, rig markets, etc. they get nothing but a slap on the wrist or financial penalty; and continue about their business.
 
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