Cognitive Dissonance

"Democracy! Bah! When I hear that I reach for my feather boa!" - Allen Ginsberg

Posts tagged big banks

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Living under Communism in China made me a fervent enthusiast of capitalism. I believe that over the last couple of centuries banks have enormously raised living standards in the West by allocating capital to more efficient uses. But anyone who believes in markets should be outraged that banks rig the system so that they enjoy profits in good years and bailouts in bad years.

The banks have gotten away with privatizing profits and socializing risks, and that’s just another form of bank robbery.

Nicholas Kristof, “America’s Primal Scream”

Kristof hits the mark in this column. In light of the mass arrests across the nation, let’s remember how this has grown since its beginning on September 17th. The Occupy movement has gone global in about a month.

September 17th was the beginning. October 15th is not an ending. It marks the commencement of occupying everywhere.

(Source: The New York Times)

Filed under Nicholas Kristof New York Times Occupy Wall Street inequality injustice capitalism politics economy US government big banks banksters free market