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View Diary: Gigantic Journalistic Investigation Begins Ripping Mask Off Bank Secrecy (89 comments)

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  •  Ever heard of the Clatyon-Sherman AntiTrust Act? (23+ / 0-)

    Actually I am not sure that the Justice Dept has either, but monopolies, excessive concentration vertically or horizontally  is, in theory, in this country, illegal.  
    If the law were actually being enforced, we would not have TBtF banks and Walmart.

    To Goldman Sachs in according to their desires, From us in accordance with the IRS.

    by Bluehawk on Wed Nov 28, 2012 at 04:36:37 AM PST

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    •  One problem with the law is that it is geared (8+ / 0-)

      towards inherently bad acts that have roven negative consequences. Using the law to prompt good behavior is generally not effective. Also, there is the presumption of probity which assumes that human behavior is good, unless proven otherwise. This assumption (in error, in my opinion) also extends to artificial persons -- i.e. corporations, despite the obvious fact that groups of people have much more potential to cause injury and harm and should, perhaps be treated differently and not be according human and property rights. Not to mention that corporations are actually organized to hold the individual participants harmless of any negative consequences.
      In theory, I suspect, the idea is that the activities of corporations are so narrowly defined and constricted at the outset (akin to limited government) that there is little opportunity for malfeasance.  Corporations are, after all, organized for a "public purpose," but it doesn't work out that way, especially when profit, autonomy and monopoly arrive on the scene. Or rather, behind the screen of secrecy (privacy).
      Human seek power.  Power, to be felt, has to hurt. So, we need to be on the lookout for power lusting pols all the time.
      People who go to Washington to exercise power should be disqualified from the get-go.

      We organize governments to provide benefits and prevent abuse.

      by hannah on Wed Nov 28, 2012 at 05:27:44 AM PST

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