| Soleron said: Business, and individuals with business interests, funding government is the #1 problem with both the US and UK at the moment. It should be outlawed, parties can get small cumulative donations from the voting public. Free market != business lobbying controls government policy. FSA rules already provide for the government compensating savers up to £50k when a bank goes bankrupt. That should cover individuals; and businesses/governments are much more free to choose safer/riskier investments so shouldn't get such compensation. In other words, had a bank gone down due to its own mistakes then the most vulnerable savers wouldn't have lost their money. Yet it doesn't reward banks for their mistakes like bailouts do. The UK still did bailouts, that was the worse of the two things I said. I believe recession is a good thing, it would have meant banks would have taken fewer risks. As it is, because they did not suffer from the poor investment choices, they are beginning to make those mistakes again - did you see that UK banks are now offering >100% mortgages, and mortgages that are over 5x salary, again? Regulating against that kind of lending wasn't necessary; a recession should have taught banks not to do that. If it had been in place then it would have reduced global liqudity (cheap money) that allowed businesses to finance expansion and increase the economy. |
Haha actually in America it is against the law for big business to give out such large sums of money to finance campaigns and interests for movements. Of course they either find a loophole or simply break the law and no one questions it. One of the problems in the American system is you need the big money to win a campaign but you pay a moral price for doing it.
Funny though there is a lot of people that argue for the merits of capitalism and these big businesses guiding it but we are still inherently seeing them as corrupt. Just with businesses we the taxpayers really have no control over (even if you do think your boycotts work). Americans just have a fundamental problem understanding that what they want isn't what they think they want. Capitalism might just be that.
So with this article, to go back on topic, I don't think it is any surprise that government has some corrupt parts or "silly" ideas that have helped cause this crisis and of course not surprising that big business was the ones funding it.
