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View Diary: Taibbi: My Advice to WS Protestors w/update on picture (157 comments)

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  •  Breaking banks up (6+ / 0-)

    is really the key.  It has become apparent that you really can't regulate large economic entities.

    Keynes once wrote if you owe a bank $1,000 they own you.  If you owe them $1,000,000 million, you own them.

    Similarly, it is possible if no one economic entitity is too large for the government to effectively regulate an industry.  But when an industry has few firms, those firms wind up regulating the government.

    The bitter truth of deep inequality has been disguised by an era of cheap imported goods and the anyone-can-make-it celebrity myth - Polly Toynbee

    by fladem on Thu Oct 13, 2011 at 08:41:21 AM PDT

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    •  Banks aren't the only problem. (9+ / 0-)

      All of our industries are cartels or monopolies.

      Health care costs wouldn't be this high if it weren't for the collusion of the insurance/pharma/medical industries.

      We'd get something more like ethics in journalism and something more than infotainment and disinformation if the media and telecommunications industries weren't conspiring to dumb us down and keep us stupid.

      Oil has been lobbying as a cartel for decades.  They should have been broken up or nationalized back in the 70's.

      Need I go on?  I'd have a harder time finding an industry that isn't behaving like a monopoly.  

      All you  need to know is how collusive lobbyists are and you can see where the consumer is shafted repeatedly from every direction.

      Government of the people, by the people, for the people, shall not perish from the earth - Abraham Lincoln

      by Gustogirl on Thu Oct 13, 2011 at 10:36:43 AM PDT

      [ Parent ]

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