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Banks and Corporations are Detrimental

  1. Kathryn L Hill profile image83
    Kathryn L Hillposted 3 years ago

    No, they are not. This statement equals a myth. Banks and corporations are necessary in maintaining a percolating economy in a (once) free society such as The United States.

    1. John Holden profile image60
      John Holdenposted 3 years ago in reply to this

      It isn't enough to say that. Back up your assertion with evidence.

      1. Kathryn L Hill profile image83
        Kathryn L Hillposted 3 years ago in reply to this

        They are not detrimental and they have been working just fine as evidenced by our powerful economy. You say  the economy isn't powerful? Compare it with India. You say the unemployment rate is high? Compare it with India.
        On line info:
        "By the turn of the 21st century, India had progressed towards a free-market economy, with a substantial reduction in state control of the economy and increased financial liberalisation.[70] This has been accompanied by increases in life expectancy, literacy rates and food security, although urban residents have benefited more than agricultural residents.[71]"

        1. John Holden profile image60
          John Holdenposted 3 years ago in reply to this

          So what about the global crash in 2008 caused by the banks?
          What about all the jobs exported to other countries by the corporations?
          What powerful economy?

          1. Kathryn L Hill profile image83
            Kathryn L Hillposted 3 years ago in reply to this

            In 2008 the policies of lending were liberalized. Rules in place designed to to prevent what happened were broken.
            The economy is powerful and you know it.

          2. profile image83
            Education Answerposted 3 years ago in reply to this

            Great, at least the liberals aren't blaming George Bush for the collapse now.  The banks caused the collapse. . .

            1. John Holden profile image60
              John Holdenposted 3 years ago in reply to this

              I suppose you would argue that it was the left that caused the collapse!

            2. Kathryn L Hill profile image83
              Kathryn L Hillposted 3 years ago in reply to this

              The left leaning liberals (Barney Frank, Harry Reid et al) insisted the banks loan to people who would never be able to pay mortgages/loans. When houses keep selling the prices sky rocket. The states got in on it, based on the increase of property taxes revenue.

              Other forces involved loopholes and moving money, rather than actual goods and unsupervised dealings between Washington and Wall Street which encouraged the detrimental behavior of the large banks. The problem is with the banking system, not the institution.

              The problem was with the *irresponsible deregulation* which lead to the quest for short term gain and an addiction to greed and power.

              These problems really need to be worked out. Here is a list of individuals who contributed to the pillage of the people:
              Ben Bernanke, Timothy Geithner, Hank Paulson, Ken Lewis of Bank of America in conjunction with John Thane of Merrill lynch.

        2. John Holden profile image60
          John Holdenposted 3 years ago in reply to this

          Now India, there is a powerful economy. Unemployment - India 3.8, USA 6.70.

          1. Kathryn L Hill profile image83
            Kathryn L Hillposted 3 years ago in reply to this

            Thanks to a free-market economy, I might add.

            1. John Holden profile image60
              John Holdenposted 3 years ago in reply to this

              Fancy them doing it so much better than the home of the free market economy!

        3. rhamson profile image75
          rhamsonposted 3 years ago in reply to this

          What are you comparing is a totally dissociative and misleading number. Is the banking and corporate advances in India comparative to the US? Is the growth rate comparable? Perhaps a global scaling is in order for a comparison as to our standard of living is to theirs.

          Consumer Prices in United States are 190.50% higher than in India
          Consumer Prices Including Rent in United States are 237.15% higher than in India
          Rent Prices in United States are 426.92% higher than in India
          Restaurant Prices in United States are 319.97% higher than in India
          Groceries Prices in United States are 185.75% higher than in India
          Local Purchasing Power in United States is 114.88% higher than in India

          Maybe we could ease the restrictions with banking and corporate gluttony to even out that standard of living that is so unbalanced to ours. The race is on! Where you might say? To the bottom of course.

          1. Kathryn L Hill profile image83
            Kathryn L Hillposted 3 years ago in reply to this

            Maybe we need to become more free market... like India.

            1. rhamson profile image75
              rhamsonposted 3 years ago in reply to this

              So the race is on!

              1. Kathryn L Hill profile image83
                Kathryn L Hillposted 3 years ago in reply to this

                What race?
                    No race.
                        Equal opportunity I would say. India loves us. We love India!
                We have a 7 Up relationship with India.

                1. rhamson profile image75
                  rhamsonposted 3 years ago in reply to this

                  I should say they love us. The 1970 census recorded 51,000 foreign born from India in the United States. By 2006, the number of Indian immigrants had grown nearly 30-fold to 1.5 million, making them the fourth largest immigrant group in the United States after the Mexican, Filipino, and Chinese foreign born.
                  You have to wonder why they are busting their butts to escape that utopian model over there.

                  1. Kathryn L Hill profile image83
                    Kathryn L Hillposted 3 years ago in reply to this

                    ...you mean that *reality* model. They have a lot of problems over there. Like a lack of electricity and other modern necessities and conveniences. There is a lack of justice as well. Many things are not resolved in India. They are breaking free of many culturally induced detriments having to do with religious beliefs and customs. East and West truly benefit from each other. All their advancements are due to the country's democratic system of government. The economy has picked up due to the freedom they have. freedom ( when promoted within the laws of justice) gives people ambition and drive. This *drive* is what has been increasing in the country's recent history.

    2. Don W profile image83
      Don Wposted 3 years ago in reply to this

      Being socially irresponsible is detrimental. It just so happens that many banks and corporations are socially irresponsible.

    3. Credence2 profile image84
      Credence2posted 3 years ago in reply to this

      Fine, as long as banks and corporations are required to operate within rules insuring that they do legal and ethical business, they are just fine with me.

      None of us live on an island and must recognize that it is impractical to allow anyone to do whatever they want without being held accountable for that activity.

      1. Kathryn L Hill profile image83
        Kathryn L Hillposted 3 years ago in reply to this

        That is what we figured out. Thanks for backing up our conclusions.

  2. Kathryn L Hill profile image83
    Kathryn L Hillposted 3 years ago

    "Maybe we could ease the restrictions with banking and corporate gluttony to even out that standard of living that is so unbalanced to ours."  rhamson

    Banks need to follow the rules already in place.
    What are the rules and restrictions? What are they based on.
    ...anyone know?

    1. John Holden profile image60
      John Holdenposted 3 years ago in reply to this

      2008 and the collapse of the worlds economy.

      1. Kathryn L Hill profile image83
        Kathryn L Hillposted 3 years ago in reply to this

        greed, not banks.

        1. John Holden profile image60
          John Holdenposted 3 years ago in reply to this

          No, greedy bankers.

          1. Kathryn L Hill profile image83
            Kathryn L Hillposted 3 years ago in reply to this

            Thats what I said: Bankers, not Banks. Nice to agree with you, John.

            1. John Holden profile image60
              John Holdenposted 3 years ago in reply to this

              Banks are made up of bankers and the banks have ultimate responsibility for the actions of their employees.

  3. Kathryn L Hill profile image83
    Kathryn L Hillposted 3 years ago

    How are corporations detrimental? Corporations found it cheaper to go elsewhere due to government over-regulation.

    1. John Holden profile image60
      John Holdenposted 3 years ago in reply to this

      What, like insisting that the corporations actually paid people?

      1. Kathryn L Hill profile image83
        Kathryn L Hillposted 3 years ago in reply to this

        They do pay people. Those who work for corporations are benefiting somehow or they wouldn't be there.

        1. John Holden profile image60
          John Holdenposted 3 years ago in reply to this

          But too many are working in another country.

          1. Kathryn L Hill profile image83
            Kathryn L Hillposted 3 years ago in reply to this

            ...to survive. or to make the money they wish to make. uh oh… damn ambition.

            1. John Holden profile image60
              John Holdenposted 3 years ago in reply to this

              If you are happy with a ten-year-old working full time for half a dollar a day to enable you to wear Nike's then I'm sorry for you.

              1. Kathryn L Hill profile image83
                Kathryn L Hillposted 3 years ago in reply to this

                Who allowed the child to work? The parent. How dare the PARENT! Or was the child an orphan? How dare the GOVERNMENT! Where are the laws of justice!

                1. John Holden profile image60
                  John Holdenposted 3 years ago in reply to this

                  Certainly not amongst the corporate giants of the USA.
                  Do a little research and find out why parents have to let their ten-year-old children work.  Hint - it is often their only source of income, the parents being too expensive to employ.

                  1. Kathryn L Hill profile image83
                    Kathryn L Hillposted 3 years ago in reply to this

                    -oh, brother. This is beyond comprehension. The love of a parent for their child should be greater than that. Again, you instead blame the corporation. It is STILL the Parent's fault. Not buying it, John.

                2. rhamson profile image75
                  rhamsonposted 3 years ago in reply to this

                  Say it ain't so Kathryn! You would want their government to step in and .........uh..........regulate it? How would that help their growth towards a free society and economy? The truth is that in their struggle in their society they have to sell their children's talents and future just to survive. We exploit this situation and corporate makes billions in the process. By the way we lose our job in the same situation as they are exploited. Profits have no time for orphans issues.

                  1. John Holden profile image60
                    John Holdenposted 3 years ago in reply to this

                    +1

                  2. Kathryn L Hill profile image83
                    Kathryn L Hillposted 3 years ago in reply to this

                    Laws of justice must be enacted and followed. There is noting wrong with freedom as long as boundaries are in place.
                    RIGHT?
                    Corporations should not be outlawed. Injustice should be outlawed.
                    Does this not make perfect sense?
                    OUTLAW
                    "In historical legal systems, an outlaw is declared as outside the protection of the law. In pre-modern societies, the criminal is withdrawn all legal protection, so that anyone is legally empowered to persecute or kill them. Outlawry was thus one of the harshest penalties in the legal system. In early Germanic law, the death penalty is conspicuously absent, and outlawing is the most extreme punishment, presumably amounting to a death sentence in practice."

        2. wilderness profile image96
          wildernessposted 3 years ago in reply to this

          Didn't you know?  Everyone is forced to work at big companies.  Somebody standing over them with a whip, I think.

  4. Kathryn L Hill profile image83
    Kathryn L Hillposted 3 years ago

    Internet Info:
    "France’s unemployment rate is stubbornly high, just below 11%, and economic growth is persistently weak.

    The French economy is still slightly smaller than it was at the beginning of 2008, just before the downturn set off by the global financial crisis.

    Six years on, while some economies including the US, UK and Germany, have managed some relatively strong growth, France is still looking weak.

    The most recent data, for the third quarter of last year, show the French economy shrinking again.

    What does France need to do to inject some economic vigour into its veins?

    More cuts

    Critics of French economic policy call for a smaller state, and a reduction in the burden faced by business from tax and regulation, especially in the labour market. It could also do with getting the government’s debts down."
    http://www.spyghana.com/frances-unemplo … rnly-high/

    1. John Holden profile image60
      John Holdenposted 3 years ago in reply to this

      What's any of that to do with the topic?

      1. Kathryn L Hill profile image83
        Kathryn L Hillposted 3 years ago in reply to this

        ...weak economy.   Do banks or corporations cause the weakness of France's economy? No. Over regulation, over taxation and overly-big government policies.

  5. Kathryn L Hill profile image83
    Kathryn L Hillposted 3 years ago

    Liberty created the corporation. You can't get rid of liberty in order to kill the corporation. You just can't. Laws of Justice must be in place and MUST be followed.
    Freedom within Boundaries.
    Amen.

 
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