The entire world is in debt to the politics of corporatism.

People labour under the illusion that its politicians that shape their lives - they don't.

Banks and the financial sector control the actions of politicians and the fallouts from those actions eventually filter down to you and me and the rest of the planet who aren't in the club,

A system has been allowed to grow out of pure and simple greed whereby those intuitions and those that lead them, invest in them and benefit from them are iron clad and insulated from the negative consequences and harm from their decisions and actions.

Edited by The Sash (23 Dec 2015 1.12pm)

As far as the rules go, it's a website not a democracy - Hambo 3/6/2014

Why would anyone spend that much on earth anyway? Must have a big allotment.

That one in the John Lewis advert? What's he got to cry about?

Politicians don't make those decisions though Syd.

Publicly maybe the face, privately they are bought, lobbied and sold to ensure the financial markets and global corporate interest comes first.

Perhaps a little microcosmic modern tale of how this world all works now is the odious s*** Martin Shkreli.

He buys rights to an aids / cancer drug and overnight hikes the price by %5000. He gets bit of a rough ride from the mainstream and social media (although I saw plenty 'defending' him and his 'right to do so') - other than that he is left alone, perfectly OK to fleece, exploit and extort his fellow (dying) human beings.

Turns out though when Martin was a hedge fund manager he did a couple of 'naughties' that were to the detriment of Wall Street and greedy already rich, want to be richer types...he's arrested, charged and banged up so fast it makes your head spin.

Morality comes a very poor second to the laws that have been now spun to protect the global corporate elite...

Edited by The Sash (24 Dec 2015 9.21am)

As far as the rules go, it's a website not a democracy - Hambo 3/6/2014

Holding bank notes is like an IOU.

Our bank notes have "I promise to pay the bearer on demand the sum of £....." written on them and a signature by a Bank Of England Governor.

Well, again, yes and no. The Basel Committee and BIS do regulate the financial system and in so far as they represent Central Banks, they are at least to some extent an arm of politics/policy, albeit once removed. Furthermore (example: Basel III vs. Basel II) they do (at least on occasion) limit bank's behaviour, particularly with respect to risk management. The problem is more at a local/national than international level, where the domestic financial services industry is horribly under-/mis-regulated for the reasons you give. It's just not a one-tiered answer.

Broadly, I agree. Again, the failure is one of regulation. It's not that politicians couldn't make the necessary decisions; it's that they refuse to. But the answer there is campaign finance reform; as long as corporates are allowed to fund political parties, the outcome will remain fairly predictable.

I think we all know this story. However, given that he's been arrested this week (as you note), (http://www.theguardian.com/business/2015/dec/21/martin-shkreli-turing-pharmaceuticals-arrest-real-injustice-blames-aids-drug-price-hike) he's enduring rather more than just a rough ride from the media. So it somewhat contradicts your point. Shkrell is absolutely vile and I doubt anyone with an ounce of humanity defended him. Furthermore, sic, the authorities are trying to prosecute him.

...and there you have conservative economics. If you make the richest richer, somehow all of us will benefit. Shkrell is Thatcherite Man incarnated.

Sydenham by birth. Selhurst by the Grace of God.