I caught this headline in this morning’s news surf:
The article discusses whether people feel the government is adequately regulating “Wall Street”, i.e. the American financial markets. I think the answer—as a recent Repo 105 blogger!—would be “no”, right?
But Bloomberg quotes folks from down South. The South is the most subsidized region of the American nation. That is to say, they are the most “socialist” in that they take way much more federal money than they put back into Washington’s coffers. (States like New Jersey, on the other hand, pay much more to Washington than New Jersey will ever see back.)
“The amount of money that people on Wall Street make seems to be really out of bounds,” said Laure Sinclair, 52, a part- time accountant who lives in Dallas. “But I don’t know that the government can regulate that because we want to be a capitalist society.”
So somehow, if you had a law that executive pay is subject to shareholder approval (i.e. the shareholders and not the board set the pay), this would not be capitalism?
If there were a clawback on bonuses that did not represent actual profitability, that would not be capitalism?
And this one:
“Anything the government gets their fingers in, they mess it up,” said poll participant Norman White, 60, a community college electronics instructor who lives in Colfax, Louisiana. “I don’t have a very high opinion of the government running anything.”
This man works for a community college. That would be a government-run community college.
These folks take, take, take. And then come up with fantasy realities that the world is somehow quite different than what it really is.
When the new health care thing gets going, the biggest beneficiaries to the government subsidies and the required competition among insurers will be the people who live down South. Their (Republican) Congressman will be at damn near every feel-good medical PR event, trying to take credit. Just like they did with Stimulus projects in the South that they didn’t even vote for.
Yet, you’re going to be hearing their claptrap about what is capitalism and what government can and can’t do right for the next God-knows-how-long.