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It’s barely capitalism. A guy who made his money with government handouts and bribing the SEC so he can commit fraud used his ill gotten gains to purchase a pro
by cornercasechase 3y ago
It’s barely capitalism. A guy who made his money with government handouts and bribing the SEC so he can commit fraud used his ill gotten gains to purchase a profitable company. Then he burned that company to the ground and made it permanently unprofitable. It’s capitalism in its most distorted sense.
- hanniabu 3y agoYou just described capitalism
- quickthrower2 3y agoProfitable?
- zerodensity 3y agoI do find it unnerving that a single unelected person can have this kind of power in a democracy.
- 111111IIIIIII 3y agoThat's just capitalism.
- cmrdporcupine 3y ago"Barely capitalism" is what "capitalism" becomes without a baby sitter.
- 111111IIIIIII 3y agoThe babysitter is always capital itself, hence why it's called capitalism. Sometimes the babysitter gets distracted or gives in for a while, but it always comes back and it always has the final word.
- cmrdporcupine 3y agoYeah I don't disagree. Judging from your other comments I think we both come from the same rough angle. But maybe semantics. The state/babysitter is a product and mostly servant of capital, but capital class obv is not a monolith and it has competing interests within it which in part the state exists to mediate. But the state can also be in part captured or influenced by other interests, so it is a bit of a site of struggle. In any case what segment of interests are holding the balance of power varies over time and monopolies and bloc interests come and go.