Dear liberals: you are enabling crony capitalism.

Hurr Wikipedia hurrr.

More direct government involvement can lead to specific areas of crony capitalism, even if the economy as a whole may be healthy. Governments will, often in good faith, establish government agencies to regulate an industry. However, the members of an industry have a very strong interest in the actions of a regulatory body, while the rest of the citizenry are only lightly affected. As a result, it is not uncommon for current industry players to gain control of the "watchdog" and use it against competitors. This phenomenon is known as regulatory capture. A famous early example in the United States would be the Interstate Commerce Commission, which was established in 1887 to regulate the railroad "robber barons"; instead, it quickly became controlled by the railroads, which set up a permit system that was used to deny access to new entrants and functionally legalized price fixing.[5]

An example from 2004 would be the case of Creekstone Farms. After the mad cow scare, Creekstone decided to test all its cows for mad cow disease. This would enable them to sell again to Japan, which had blocked import of all American beef that had not been completely tested. After the proper facilities had been built and the personnel hired to make such a change, the U.S. Department of Agriculture issued an injunction and refused to allow Creekstone to buy the kits necessary to test.[6] This allowed the larger beef producers to keep costs low and not be out-competed by a smaller rival. Creekstone sued the USDA in response for abrogating free competition in the market. Economist Paul Krugman commented that the incident showed that "the imperatives of crony capitalism trump[ed] professed faith in free markets," at least for the Department of Agriculture at the time.[7]

The military-industrial complex in the United States is often described as an example of crony capitalism in an industry. Connections with The Pentagon and lobbyists in Washington are described by critics as more important than actual competition, due to the political and secretive nature of defense contracts. In the Airbus-Boeing WTO dispute, Airbus (which receives outright subsidies from European governments) has stated Boeing receives similar subsidies, which are hidden as inefficient defense contracts.[8] In another example, Bechtel, claiming that it should have had a chance to bid for certain contracts, said Halliburton had received no-bid contracts due to having cronies in the Bush administration.

Gerald P. O'Driscoll, former vice president at the Federal Reserve Bank of Dallas, stated that Fannie Mae and Freddie Mac became examples of crony capitalism. Government backing let Fannie and Freddie dominate mortgage underwriting. "The politicians created the mortgage giants, which then returned some of the profits to the pols - sometimes directly, as campaign funds; sometimes as "contributions" to favored constituents."[9]

THANKS FOR TAKING THE TIME TO REFLECT ON YOUR ACTIONS AND CHANGE YOUR WAYS. I HAVE FAITH IN YOU.

Blah blah blah. Go cry elsewhere.

Go vote for Obama. OH WAIT YOU DID HAHAHAHAHA

Hey, over regulation is good. It's only bad when big business writes the regulation with the intent of squashing small business. Solution? Public financing of campaigns. Hell the crisis commission concluded the cause of the crash was lack of regulation and enforcement resulting in widespread criminal activity.

Over-regulation worked for 40 years until it was stripped. The idea of it was to prevent crises.

Originally posted by Zeal Ex Nihilo

Stop demanding government over-regulation, stifling the market, empowering corporatism, and taking a dump on America. But you'll keep doing this, and then you'll muster the gall to complain about how America is run by Big Business and the American dream is dead.

THANKS FOR TAKING THE TIME TO REFLECT ON YOUR ACTIONS AND CHANGE YOUR WAYS. I HAVE FAITH IN YOU.

Jesus are you niave. Do you really think that with the end or lessing of regulation comes a decrease in corporatism?

Reagan (the conservative icon) de regulated and corporatism increased immeasurably.

Shrub de regulated and corporations got a steriodial boost. They've never had so much influence and power as they do in this deregulated world.

We need more regulation to keep corporations in check. The system DOES need a major overhall...but not for deregulation in corporate favor.

Hell, even the former patron saint of the market, Allen Greenspan, is now acknowledging that "the market knows best", is probably not the best approach.

Originally posted by The Dark Cloud
Jesus are you niave. Do you really think that with the end or lessing of regulation comes a decrease in corporatism?

Reagan (the conservative icon) de regulated and corporatism increased immeasurably.

Shrub de regulated and corporations got a steriodial boost. They've never had so much influence and power as they do in this deregulated world.

We need more regulation to keep corporations in check. The system DOES need a major overhall...but not for deregulation in corporate favor.

Hell, even the former patron saint of the market, Allen Greenspan, is now acknowledging that "the market knows best", is probably not the best approach.

no, you don't understand. Let me translate. The laws designed to prevent crony capitalism are creating crony capitalism despite not being seriously enforced in 31 years. In order to wipe out crony capitalism, we have to remove all regulations against crony capitalism, stop taxing crony capitalism, let crony capitalists regulate themselves and perhaps even govern us. Why mess with a system that worked for nearly a thousand years?

This seems ill-thought out.

Originally posted by The Dark Cloud
Reagan (the conservative icon) de regulated and corporatism increased immeasurably.

To be fair, Clinton did too.

Originally posted by skekUng
To be fair, Clinton did too.

You're right. That's why I laugh when people think voting for either party makes a difference.

Can we blame the Jews now, is it time? Let me know.

Originally posted by Robtard
Can we blame the Jews now, is it time? Let me know.

Originally posted by The Dark Cloud
That's why I laugh when people think voting for either party makes a difference.

bingo

Originally posted by Zeal Ex Nihilo
THANKS FOR TAKING THE TIME TO REFLECT ON YOUR ACTIONS AND CHANGE YOUR WAYS. I HAVE FAITH IN YOU.

I don't know that you really thought this thread out before you posted it.

It doesn't even begin to take into consideration the repetative, failed policies that have allowed your political party to loot this country while endlessly merriting your loyalty, even though you know better but keep voting for them. So, I'm not sure you can really bring up changed ways or reflection on behavior when you're guilty of doing exactly the same thing.

Originally posted by The Dark Cloud
You're right. That's why I laugh when people think voting for either party makes a difference.

To continue to be fair, there is only one party that is trying to reinstate regulations, as toothless as many of those regulations may be.

Originally posted by skekUng
To continue to be fair, there is only one party that is trying to reinstate regulations, as toothless as many of those regulations may be.

which party is that?

Originally posted by inimalist
which party is that?

The Democrats. The republicans have decided that because the president is black and labeled as a socialist, every signle thing he has done must be fought and misconstrude. Don't assume I'm just breaking on party line. I'm sure you've read what I've had to say in other threads on other topics.