[kj] Killing joke and Communism

[Mister Black]

Well , it was the people who borrowed money and couldn't repay it that caused the banks to fail in the first place . People burrowed on the strength of their property price , property prices fall and the birrowers are left with negative equity and cannot pay back the loan . The Banks would have too take the property back and auction them off on order to get said moneys back , this would cause property prices to slump even further causing a depression in the economy , a downward spiral.
  So Governments prop up the Banks to stop the economy sliding further , also , if the banks went bust , it would be the people who have savings that lose out , peoples pensions and savings would be lost , so it could be argued that the Government is helping the people with savings in the said bank , if the bank goes under , then its the savers who will lose and NOT the people who took loans out





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Message Received: Aug 27 2007, 01:16 PM
From: "B. Oliver Sheppard" 
To: "A list about all things Killing Joke (the band!)" 
Cc: 
Subject: Re: [kj] Killing joke and Communism

Employees have a constant risk in their employer; they take a risk in 
assuming he is competent to manage the business right. If he doesn't, 
the business fails. That is a risk workers take. When big business takes 
risk, they often want to be bailed out -- see current mortgage/housing 
crisis. But -- isn't risk-taking the manly-man thing under capitalism? 
you know, take the risk, if it doesn't pay off, it doesn't pay off? 
that's not the way really-existing businesses like it to be. Except for 
the poor -- they need the market discipline, etc. Themselves, they'd 
never refuse a good old fashioned bail out.

Survival instincts are many -- they often include collaboration (a 
corporation is supposed to be a collaborative effort, you know -- 
teamwork pep rallies and all that right? Rah rah go corpo-team! If this 
were behavior in any organization besdes a corporations, it might be 
called cult-like -- in fact the book _Corporate Cults_ does a great job 
of comparing corporations and their practices to those of cults), 
collective pooling of resources (what many mutual funds are based on, 
and indeed that's what medical insurance is in the US: when you join an 
insurance plan you are basically agreeing to subsidize members of that 
insurance plan who need the care more than you, etc.)

Only capitalism is still enough self-destructive as a system that it 
does indeed require constant government oversight, regulations, 
investigations and the like. The idea that they should be allowed to all 
just police themselves, and we'll take them on their good word for it -- 
that's just laughable. especially post-Enron, etc., but even before.

-Oliver
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