again, people lost hundreds of billions or more, then it was the Enron/ Worldcom/ Global Crossing/ Adelphia/ etc. corporate scandals, again people lost tens of billions, now it's the subprime mortgage thing. Does anyone else see a pattern here, with people losing overall trillions of dollars, I for one wonder where that money went, and is this all a well thought out and orchestrated effort by individuals and corporations to legally ( at least for the most part ) pick the pockets of Americans?. Also the things we're seeing from China and the fact that big business seems to have decided that we should eat poisoned food from China and other places because they don't want us to know where this stuff comes from and are doing everything in their power to defeat the food labeling laws The question is, is it time to bring back regulation?
2007-07-25 00:58:26 · 7 answers · asked by booboo 7 in Politics & Government ➔ Law & Ethics
China has a state controlled media, OK so maybe they executed a couple of people to make it look like they're doing something but all I know is I keep hearing about recalls and stopped shipments pretty much every day,so I should risk eating food from there for however long it takes them to get their act together ( if ever!! ) because the business community decides I don't have the right to know that I'm
eating food from there? Are you kidding me!!!
2007-07-25 01:38:27 · update #1
I have to agree with you
2007-07-25 01:01:04 · answer #1 · answered by paulcondo 7 · 1⤊ 0⤋
all the things you mention are symptoms of greed in either individual or collective cases.
since greed was mentioned as a sin back in Torah times, it looks like all the moralizing of all the religions on earth since then hasn't yet stamped it out. Well, maybe each person has to learn the old fashioned way about being greedy and the inevitable end you get if you are.
***
more seriously, there is a great book titled "The Crowd", now available for free on the internet because it is so old, which shows the various stages and the attitudes that cause them in fads and market bubbles.
Give it a read. Then ask yourself when you've ever thought or felt the way the author depicts. Priceless self-knowledge.
:-)
2007-07-25 01:30:25 · answer #2 · answered by Spock (rhp) 7 · 0⤊ 1⤋
Lots of big investors lost money in all those things you mentioned. Those same investors have been averaging a 15% return for 30 years. If you run a properly diversified portfolio, these things are only small bumps in the road. The one you did not mention was 2002 - everything went down and more wealth was destroyed in that year by legitimate companies than all the "scandals" put together.
2007-07-25 01:04:18 · answer #3 · answered by Frank 1 · 0⤊ 1⤋
There are several ways in which the Bush family plays into the Savings and Loan scandal, which involves not only many members of the Bush family but also many other politicians that are still in office and still part of the Bush Jr. administration today. Jeb Bush, George Bush Sr., and his son Neil Bush have all been implicated in the Savings and Loan Scandal, which cost American tax payers over $1.4 TRILLION dollars (note that this is about one quarter of our national debt).
http://rationalrevolution.net/war/bush_family_and_the_s.htm
------------------------------
‘Frauds-R-Us’
The Bush Family Saga
Part II - Part I Here
The Bush-Enron Connection
http://www.informationclearinghouse.info/article3328.htm
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2007-07-25 01:20:47 · answer #4 · answered by Trevor S 4 · 1⤊ 0⤋
China- Well talk to the last guy in China in charge of product safety. OOPS you can't because he is dead.
China has the Olympics in 08. They were working their tail off to improve their image.
Enron and dotcoms were the golden children and people didn't do their homework.
Slow steady investment works.
Those who think they are going to get rich overnight won't .
It takes hard work and with the stock market paying attention.
People want to sit back and let it come to them.
That is not life.
You have to earn money the old fashion way.
YOU HAVE TO EARN IT!
2007-07-25 01:10:00 · answer #5 · answered by Anonymous · 0⤊ 2⤋
Boy! are we just a ball of confussion, Its a "rolla costa",and we are what we eat. And I was hoping all this was regulated.
2007-07-25 01:05:31 · answer #6 · answered by dewhatulike 5 · 0⤊ 1⤋
yes burdensome regulation, confiscatory taxation, and bureaucratic nitwitery. thats what we need, vote democrat then!
2007-07-25 01:05:18 · answer #7 · answered by Anonymous · 0⤊ 2⤋