posted on Feb, 11 2011 @ 01:20 PM
reply to post by Janky Red
It will be entirely ironic when we are decimated By Chinese Communists and American corporatists in unison.
You are making the mistake of thinking the Banksters and Corporate CEO are Capitalists. Far from it they HATE capitalism. THEY hate Competition.
Most are "Socialist Fabians" AKA Cecil Rhodes, the Round Table, Council on Foreign Relations.
THEY own the News Media and education and can blame "capitalism" for their empire building.
Capitalism is a social system based on the recognition of individual (human) rights, including property rights, in which all property is privately
owned. More importantly capitalism takes REAL WEALTH, the product of a persons labor and reinvests it to make more wealth and thereby provides jobs.
Compare THAT idea to the reality of the 1980's:
Leveraged buyouts involve an investor, financial sponsors or private equity firms making large acquisitions without committing all the capital
required for the acquisition. To do this, a financial sponsor will raise acquisition debt which is ultimately secured upon the acquisition target...
In other words the investor is placing a mortgage on property he does not OWN!!!
This is not moral or ethical and given what happened during the Great Depression, I would be very surprised if laws were not enacted to prevent it. SO
- Where the heck was CONGRESS. Where the heck were the COURTS when this was going on??? Where the HECK was Obama and the democrats??? If you want to
do one single thing to help America get back on her feet OBAMA, then Declare Leveraged Buyouts ILLEGAL. They are certainly immoral and very
destructive to the country.
If you want to know what the US government did about it...
...In January 1982, former US Secretary of the Treasury William Simon and a group of investors acquired Gibson Greetings, a producer of greeting
cards, for $80 million, of which only $1 million was rumored to have been contributed by the investors. By mid-1983, just sixteen months after the
original deal, Gibson completed a $290 million IPO and Simon made approximately $66 million. The success of the Gibson Greetings investment
attracted the attention of the wider media to the nascent boom in leveraged buyouts. Between 1979 and 1989, it was estimated that there were over
2,000 leveraged buyouts valued in excess of $250 billion... en.wikipedia.org...
The big question is WHO profited from "eating
the seed corn"
Remember every single dollar the bankers loan out whether it is to the US Government, business, or
is created on the spot. In other words it is legalized COUNTERFEITING.
The byproduct of all this money printing was the increase of the money supply from $60.5 billion in 1966 to $2016 billion in Dec 2010 AND it caused
the minimum wage to rise from $1.00 to $7.25. (My Mom in the thirties was paid 25 cents an hour and that was considered a very generous wage for an
....These days, corporations seem to exist for the investment bankers.... In fact, investment banks are replacing the publicly held industrial
corporations as the largest and most powerful economic institutions in America.... THERE ARE SIGNS THAT A VICIOUS spiral has begun, as each
corporate player seeks to improve its standard of living at the expense of another's. Corporate raiders transfer to themselves, and other
shareholders, part of the income of employees by forcing the latter to agree to lower wages. January 29, 1989 New York Times:
AGED BUYOUTS: AMERICAN PAYS THE PRICE
THAT by the way is where ALL our good paying jobs got wiped out. The equity in the business was taken by the bankers and the businesses had to cut
benefits and wages to survive. ALL of the corporations I worked for, some with very good working conditions because they had NO DEBT, are
edit on 11-2-2011 by crimvelvet because: correct spelling