The private equity fucking around in the case of Red Lobster is a common example of the steep downside of capitalism. Not "creative destruction", as its apologists often claim... just destruction for the profit of a few, and the socialization of the "private" risk to Main Street through Wall Street mechanisms. (Anybody remember a little …
The private equity fucking around in the case of Red Lobster is a common example of the steep downside of capitalism. Not "creative destruction", as its apologists often claim... just destruction for the profit of a few, and the socialization of the "private" risk to Main Street through Wall Street mechanisms. (Anybody remember a little thing called Credit Default Swap derivatives?)
What's revealed is that at the top, elite levels of finance, capitalism is a house of cards with the elitists like Dimon et al dealing from the bottom of the deck, free of any actually meaningful rules, since the rule makers are all bought and paid for.
The private equity fucking around in the case of Red Lobster is a common example of the steep downside of capitalism. Not "creative destruction", as its apologists often claim... just destruction for the profit of a few, and the socialization of the "private" risk to Main Street through Wall Street mechanisms. (Anybody remember a little thing called Credit Default Swap derivatives?)
What's revealed is that at the top, elite levels of finance, capitalism is a house of cards with the elitists like Dimon et al dealing from the bottom of the deck, free of any actually meaningful rules, since the rule makers are all bought and paid for.
Hear! Hear!