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Technology Stocks : The *NEW* Frank Coluccio Technology Forum -- Ignore unavailable to you. Want to Upgrade?

To: Frank A. Coluccio who wrote (30960)	8/13/2009 5:45:24 PM
From: axial	Respond to of 46821

Frank, there's no comfort in Mr. Black's forthright and credible analysis. No comfort in what happened, and even less in what followed. People have forgotten the rage that engulfed the nation as ordinary people revolted during the Great Depression. The country's existence was threatened. "Deep capture" pervades the nation's institutions, and its elites are failing. There is no Roosevelt, and no Percola to address the wrongs. The perpetrators now hold public office, or retain prominent positions. They continue drawing huge bonuses enabled by publicly-funded support for their institutions, even as bailout money also generates huge profits for them. The so-called regulation being imposed on financial innovations and practices is insufficient, and will merely impede, not stop, what amounts to institutionalized theft. The diversion of capital from economic practices with social value will continue. You note "...a larger shift in the value system that now seems prevalent in so many facets of modern society", and you're right. But the cost of that shift, reckoned in trillions of dollars, will be borne at the low end of the socioeconomic scale. Not yet, but sooner or later, those who bear the unfair burden will realize what's been done to them, their children, and their children's children. Jim