October 18, 2008

The Solution to Casino-Capitalism?

By admin

Ralph Nader has some timely suggestions for reducing or eliminating what he calls ‘casino-capitalism’:  a tax on transactions.

Full story here.

So what do you think?  Would the powers that be even remotely consider a tax on their own transactions?  No.

That would be like asking a Ford to impose a tax on its own engines.

I’m sorry if I sound resistant to the idea.  I would actually love to see something like that happen.

The problem is that the same people who are running (ruining) the financial industry are also those who are governing (grabbing) on behalf of the industry.  Paulson is a case in point.

We’ve got this great adage about letting the wolves watch the chicken house because we know what the result will be.  What happens, however, when the Wolfowitz’ watch the financial house?