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The reasons I believe that the pervasive corruption in our government and business community of Wall Street, investment banking, securities and finance will be investigated and prosecuted are:
- because the effects of this activity has negatively impacted the economies around the world;
- because these actions have taken undue advantage of worldwide government treasuries and assets;
- because the United States government, States’ governments, and local governments have held citizens to the most trite and inflexible applications of the law in the history of our nation;
- because these actions have harmed the economy of the United States in critical ways, have cost our country huge losses in businesses that were national assets and decimated the well-being of many;
- because no matter where a person sits in the world or at what status, it has harmed them in some way of no small substance; and
- because inequalities of justice based on status, position, authority and influences cannot be tolerated by any society that desires a continued and prosperous existence.
There is a “shadow government” system in the United States of America but it hasn’t taken the same form as in many smaller economic powers. Part of the basis of this “shadow government” has been by process of a faulty belief system whereby those with wealth were considered to be right and all others “less right,” “less correct,” and “wrong.”
Another element of the basis for this has been the process of deference whereby one in a position of authority and/or decision-making have deferred judgment to those with “expertise” on the assumption that by virtue of this specialization and knowledge – better, more intelligent and more accurate choices could be made. That would have worked only if the knowledge had been conveyed, judged by those intending to use it, subjected to principled decision-making processes and then applied, which it wasn’t in many cases.
There has also been a finely-tuned and well-constructed system of “rents” to participate in any process or profit-building enterprise which has been subjected to a limited and gated set of pathways whereby those in power and position would benefit financially and by exchange of favors. This entrenchment within our system has included government and business leaders coordinating with lobbies and others of influence within the social order at the highest levels to restrict competitive business, restrict start up businesses, restrict and discourage fair competition, restrict and restructure a level playing field into one that is enhanced in favor of their “friends,” to deny the open and accurate flow of information presented truthfully, honestly and accurately, as well as to unnaturally alter and interrupt the flow of opportunities, moneys and access to moneys.
Among other things . . .
Written by Cricket Diane C Sparky Phillips, 10-04-08, USA
(And, personally, I think Paulson didn’t bail out Lehman Brothers when he is bailing out everyone else because of a history of competition that existed between his Goldman-Sachs and Lehman over years and was based on some moment of petty, innocuous in-trading that went on between them in a deal some time.)