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Old 04-04-2011, 11:16 AM
 
9,856 posts, read 13,430,119 times
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Quote:
Originally Posted by NorthGAbound12 View Post
Yeah reality doesn't work that way. You start a grocery store down the street that starts to cut into their business, the big grocery store will try all sorts of legal and un-ethical gymnastics to get you shut down.
So you don't try because something is difficult?
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Old 04-04-2011, 11:24 AM
 
19,216 posts, read 12,995,690 times
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Quote:
Originally Posted by hnsq View Post
um...not at all actually.

CEO's only work to increase shareholder value. CEO's sole job is to steadily increase earnings per share. Their responsibility is to shareholders, no one else.
Verbal reality vs non-verbal reality.
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Old 04-04-2011, 11:25 AM
 
Location: A great city, by a Great Lake!
15,908 posts, read 10,081,462 times
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Quote:
Originally Posted by NorthGAbound12 View Post
Yeah that's the ticket to a stable economy, setting up your economy based entirely on the worst in people, giving power to shady individuals playing on the worst aspects of their personalities, and assuming something positive will result and they can self police. Yeah that's not insane.

If America is really about protecting rights it's doing a pretty ****ty job. When we deregulate the market and turn Wall St into a casino assuming they'll police themselves look at where we find ourselves. People lose their "pursuit of happiness" through no fault of their own. Then these crooks can just buy off a few more politicians and ready their golden parachutes. Main St is left impotent and stripped of rights to the benefit of Washington/Wall St/K Street.

I'm not a socialist, I'm a capitalist. But most importantly I'm a realist. We don't even allow athletes to police themselves, they have umpires, judges, and referees. The government should act as the police, not picking winners and losers, but ensuring that everyone actually has the right to "life, liberty, and the pursuit of happiness."

Tried to rep you, but it wouldn't let me. So, good post. Especially the bolded!
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Old 04-04-2011, 11:26 AM
 
3,269 posts, read 4,830,879 times
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Quote:
Originally Posted by NorthGAbound12 View Post
Exactly. America is a country that's sold the "greed is good/live the American Dream" lie hook, line, and sinker. Look where it's gotten us. Greed turned Wall St into a casino that even Las Vegas would have shut down, and it's brought this nation to our knees. CEO's earn 400 times the average entry level worker in their company. America is built on the idea that enough is never enough, we always want and NEED more. People by and large don't care about rules and regulations so long as the money train is rolling along. Then the casino collapses and everyone's in outrage. I'm not religious but I do believe in reaping what you sow.

The meanwhile Main St is left picking up the pieces while the greedy bastards at the top of the pyramid are laughing all the way to the bank on their golden parachutes.
unbridled greed isn't good. it isn't healthy. jmho. i don't know if the following is defined as 'greed', but wanting to beat inflation is good. wanting to save for retirement is good. wanting to save for your kids' education is good. it's a matter of goals i think.
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Old 04-04-2011, 11:36 AM
 
9,856 posts, read 13,430,119 times
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Quote:
Originally Posted by ergohead View Post
Verbal reality vs non-verbal reality.
And lack of knowledge of how closely tied executive payout incentives are to EPS makes for frustrating online discussions.
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Old 04-04-2011, 11:47 AM
 
10,963 posts, read 8,056,331 times
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Quote:
Originally Posted by LogicIsYourFriend View Post
Value greed? That's a slippery slope to moral bankruptcy.
We are already sliding well down that slope. Look at the people society values as "celebrities", often they have no other talent except that some people may find them visually appealing and they make a lot of money i.e. Kim Kardashian, Paris Hilton etc.

Qualities like loyaltry, integrity, intelligence and standing on principle are not longer as highly valued in society as they used to be.

The standard is now will it make me money and/or will it make me popular? Everything seems secondary to that.
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Old 04-04-2011, 12:00 PM
 
Location: West Coast of Europe
21,424 posts, read 19,323,714 times
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I think greed is a word that is inherently negative, just like lying, murder, insult etc.
And it affects not only the rich, but every class. I remember some time ago someone posted a video on how regular people stormed a shop on Black Friday, pushing, shoving and trampling over each other just to get cheap stuff before someone else did.
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Old 04-04-2011, 12:04 PM
 
32,503 posts, read 16,644,373 times
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Quote:
Originally Posted by hnsq View Post
um...not at all actually.

CEO's only work to increase shareholder value. CEO's sole job is to steadily increase earnings per share. Their responsibility is to shareholders, no one else.
And the shareholders are mostly represented by investor funds, whose responsibility it is to maximize earnings, nothing else.

So when corners are cut and a Deepwater Horizon or a Sago mine disaster happens, it's actually nobody's fault - on the contrary, it's the system working as designed. Heaven forbid those lavishly compensated individuals should feel themselves constrained by any sort of ethical concerns.
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Old 04-04-2011, 12:27 PM
 
Location: Dallas, TX
31,777 posts, read 24,907,156 times
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Quote:
Originally Posted by hnsq View Post
I am sorry, but how is this article suggesting that the poor be deprived of any rights? The right to pursue wealth is available to all, isn't it?

Where did this article suggest taking rights away from someone based on wealth or class?

And isn't greed a good thing? If wall street is corrupt, start your own mutual fund. If the grocery store down the street has prices that are too high, open your own. Your greed to want to do better than your neighbor will keep him in check.
The quote doesn't bother with redistribution as you understand it. It speak of a just humanity, a society based on just principles.

Do you think redistribution of wealth is unidirectional? That there is unlimited wealth at any given point in time? Redistribution happens all the time, you just don't like the idea of a rising middle class (which will undoubtedly be at the expense of the rich). That is the point your article emphasizes on. Rich can't get richer without taking advantage of the resources around them. And they have the ability to. Do you think a person born poor has the same freedoms, and has to work just as hard to be rich as one born a billionaire?

Greed is at the core of capitalism, but not even Adam Smith envisioned a world that would work without regulations.
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Old 04-04-2011, 12:43 PM
 
575 posts, read 831,633 times
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Oh, yeah let's all value people like CEO's who do nothing but run their corporations into the ground and still get big bonuses. You want to value greed, fine let's take that train to moral bankruptcy. But let's be smart and make sure the people making these high bonuses also make the corporations they work for are better for hiring that CEO in the first place. How many more stories do we have to hear about CEO's leaving some corporation they ran in a mess and possibly bankrupt, while said CEO leaves with millions in bonuses?
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