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Comment: Re:Arrogant bastards (Score 1, Interesting) 293

Comment: Re:Banksters (Score 1) 652

by PopeRatzo (#49770731) Attached to: Greece Is Running Out of Money, Cannot Make June IMF Repayment

Utter nonsense. Yes, in some cases that may be the effect, but it's certainly not the design.

The "design" doesn't matter in this case. The biggest companies in the world are ignoring that design.

By design, boards of directors are intended to serve the same role that elected political representatives do for citizens of a nation; to represent the interests of the voters.

Don't we have enough evidence that when the corrupting influence of money gets enough, elected political representatives no longer represent the interest of the voters?

That just indicates that regulators are not making the fines large enough. If regulators want to use financial penalties, they have to make them large enough that bad actions are unprofitable.

That's not going to happen as long as the regulators are former bankers. There's a revolving door between regulatory agencies and the industries they regulate.

We have to evaluate the system we have, not the ideal or the system we wish we had. This is late-stage capitalism and we have to evaluate it on it's merits.

Work expands to fill the time available. -- Cyril Northcote Parkinson, "The Economist", 1955

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