Posts Tagged ‘corporate misconduct’

Two Peas in a Pod

By Thomas L. Friedman

The world’s two biggest democracies, India and the United States, are going through remarkably similar bouts of introspection. Both countries are witnessing grass-roots movements against corruption and excess. The difference is that Indians are protesting what is illegal — a system requiring bribes at every level of governance to get anything done. And Americans are protesting what is legal— a system of Supreme Court-sanctioned bribery in the form of campaign donations that have enabled the financial-services industry to effectively buy the U.S. Congress, and both political parties, and thereby resist curbs on risk-taking.

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We May Be Witnessing the First Large Global Conflict Where People Are Aligned by Consciousness and Not Nation State or Religion

By Naomi Wolf
They’re fighting a “corporatocracy” that has bought governments, created armed enforcers, engaged in systemic economic fraud, and plundered treasuries and ecosystems.
America’s politicians, it seems, have had their fill of democracy. Across the country, police, acting under orders from local officials, are breaking up protest encampments set up by supporters of the Occupy Wall Street (OWS) movement – sometimes with shocking and utterly gratuitous violence.

In the worst incident so far, hundreds of police, dressed in riot gear, surrounded Occupy Oakland’s encampment and fired rubber bullets (which can be fatal), flash grenades and tear-gas canisters – with some officers taking aim directly at demonstrators. The Occupy Oakland Twitter feed read like a report from Cairo’s Tahrir Square: “they are surrounding us”; “hundreds and hundreds of police”; “there are armoured vehicles and Hummers”. There were 170 arrests.

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Why we need nationalised Banks

by George Irvin 

As things stand, the banks are the permanent government of the country, whichever party is in power.” (Lord Skidelsky, House of Lords, Hansard Citation, 31 March 2011, c1359)

Everybody agrees that the next financial crisis is about to hit us …. bringing another economic crisis in its wake. The general view is that if we were able to prevent meltdown in 2008 by throwing money at the banks, this time the money will be more difficult to find. Unlike the last time, the OECD economies are stagnating, unemployment is high and there’s already much public anger about cuts, joblessness and bankers’ bonuses. [1]

Perhaps we should remember that in 2009, neo-liberalism was pronounced dead and buried. It was thought that a new, more thoughtful era was being born. It most certainly didn’t happen. Instead, European countries became more narrowly nationalistic and xenophobic, while the US gave the world the Tea Party. So there is good reason to believe that, as in the 1930s, economic crisis may strengthen the right more than the left. That’s one reason that progressives need to sloganise less (eg, it’s all due to greedy bankers) and think more about underlying causes.

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Let’s end corruption – starting with Wall Street

by Mark Engler

As the #OccupyWallStreet protests continue to grow,  bankers must be held to account for their ill-gotten gains.
It’s a favourite conservative ploy in the development debate: blame poverty on corruption.

When explaining why countries in the Global South face stark levels of inequality and deprivation, you just say it’s due to a common penchant for bribery and fraud. You treat it as a cultural deficiency.

Following this approach, institutions such as the World Bank trumpet their work in ‘good governance’ and anti-corruption. No need to examine the disastrous results of neoliberal policies such as privatization, deregulation and austerity. Nor do élites in wealthy countries have to acknowledge how foreign corporations have propagated kickbacks and cronyism. Instead, they can simply regard these as endemic to the darker continents.

Since 2008, not a single senior executive in the US banking industry has faced jail time for fuelling one of the largest financial crises in history.

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Occupy Wall Street: The Most Important Thing in the World Now

by Naomi Klein 

I was honored to be invited to speak at Occupy Wall Street on Thursday night. Since amplification is (disgracefully) banned, and everything I say will have to be repeated by hundreds of people so others can hear (a k a “the human microphone”), what I actually say at Liberty Plaza will have to be very short. With that in mind, here is the longer, uncut version of the speech.

I love you.

And I didn’t just say that so that hundreds of you would shout “I love you” back, though that is obviously a bonus feature of the human microphone. Say unto others what you would have them say unto you, only way louder.

Yesterday, one of the speakers at the labor rally said: “We found each other.” That sentiment captures the beauty of what is being created here. A wide-open space (as well as an idea so big it can’t be contained by any space) for all the people who want a better world to find each other. We are so grateful.

If there is one thing I know, it is that the 1 percent loves a crisis. When people are panicked and desperate and no one seems to know what to do, that is the ideal time to push through their wish list of pro-corporate policies: privatizing education and social security, slashing public services, getting rid of the last constraints on corporate power. Amidst the economic crisis, this is happening the world over.

And there is only one thing that can block this tactic, and fortunately, it’s a very big thing: the 99 percent. And that 99 percent is taking to the streets from Madison to Madrid to say “No. We will not pay for your crisis.”

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