Goldman Sachs is the natural progression of Capitalism

[Duer 157099]

Let's all stop pretending that GS did something "wrong". In terms of unrestratined capitalism, they did exactly the right thing, the very thing that is expected and indeed is necessary in order to achieve growth/profit, which is what capitalism is all about.

Don't act all surprised.

[go west young man]

1. Your totally on the money with that one. Pun fully intended.

[HereSince1628]

2. But our constitution doesn't actually say anything capitalism does is correct

Indeed it doesn't mention capitalism by name. It does speak of commerce and protecting national interest with tariffs.

It is only an interpretation of a PRE-Constitutional document that, by its antecedant properties is irrelavent to US LAW, that PURSUIT OF HAPPINESS is often interpreted as Capitalism.

We are NOT a capitalist nation. NOTHING in the constitution says that concentration of wealth is an ideal or a goal. The document speaks to COOPERATION and COMMERCE between states. NOT CORPORATE PIRACY. It seems to suggest in an obvious way that the US is a representative democracy, i.e. republic.

[Duer 157099]

3. And hopefully, sooner rather than later, enough will finally notice

I just don't know how long it will take. What I suspect though, is that after it does happen, and we've moved to a more reality-based system, people everywhere will speak of "capitalism" the way many speak of "socialism" -- as a derogatory, and that it is self-evident how evil a system it was.

I'm speaking specifically of "unregulated" capitalism.

[Trillo]

4. I don't know if I'd want to ever say they did a good thing.

However, I'm not feeling surprised, either.

[lxlxlxl]

5. Sort of agree, and think the same should be said first when talking about immigration

Capitalism DEMANDS illegal cheap labor. I think most of what I've heard about Arizona seems to only skirt that issue, when it should be front and center.

The thing with Goldman is that theories about capitalism dont really justify finance capital accumulation and speculation at the level of Goldman and other international firms. I dont think Adam Smith would even agree with what they do.

[William Z. Foster]

6. capitalism demands cheap labor

Capitalism demands cheap labor (cheap to buy us, but they sell the product of our work as high as they can). The "illegal" part - we are all illegal to one degree or another and at one time or another. That helps keep the labor cheap. Being poor is the "crime" and being a worker means sooner or late you will be poor. We are all also "aliens" to one extent or another in our own country. Capitalism makes us all cheap (poor), all of us illegal, and all of us aliens.

[amborin]

7. GS in the Cayman Islands:

Goldman CDOs at the Caymans
04/20/2010 - 01:29.


Did you know CDOs are actually issued by Special Purpose Vehicles, often incorporated in tax havens like the Cayman Islands?


In the much-publicised fraud case involving a lawsuit filed by the Securities and Exchange Commission against Goldman Sachs, it is absolutely no surprise to us to find that this deal, known as Abacus 2007-AC1, involves:

Issuer: Abacus 2007-AC1, Ltd., Incorporated with limited liability in the Cayman Islands
Co-Issuer: Abacus 2007-AC1, Ltd., Incorporated with limited liability in Delaware.

snip

http://www.economicpopulist.org/

[undeterred]

8. So what would "wrong" mean in that moral universe?

Failing to connive sufficiently when an opportunity to make money was presented?

[FarLeftFist]

9. Blame it on the republicans.

No really, it actually is their fault.