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brewens

(15,359 posts)

25. I don't think that last line about creating a category for the magical accumulation of wealth

Mon Dec 3, 2012, 12:55 PM

Dec 2012

is accurate. It's more like new ways the people at 1% have found to rake right off the top. Financial maneuvers that didn't even exist 30 years ago before the internets.

What's called a naked short sell would have required actually counterfeiting stock shares in the 70's. Anyone stupid enough to try it would have been caught and prosecuted.

The kind of computerized front running that goes on, you'd have had to bug someones office 30 years ago.

The fact that those kind of things never even existed until fairly recently means that it's not necessary for Wall Street to operate.

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Five Facts About America's Pathological Wealth Distribution [View all] marmar Dec 2012 OP

They haven't been fooling me. lonestarnot Dec 2012 #1

du rec. nt xchrom Dec 2012 #2

Would we prefer the rich people in this world be Chinese? dkf Dec 2012 #3

So we should be happy with feudalism, just as long as the feudal lord shares our nationality? marmar Dec 2012 #4

+1 Johonny Dec 2012 #36

I can't believe you just said that n/t leftstreet Dec 2012 #5

I do. Jazzgirl Dec 2012 #9

Unequal distribution of wealth gives inordinate power to the few who've rigged byeya Dec 2012 #11

Unequal distribution or unequal revenue? dkf Dec 2012 #15

The article (if femrap Dec 2012 #23

Capital gains are one way you realize the revenue from selling to millions. dkf Dec 2012 #24

Well, I hope you femrap Dec 2012 #40

+1 LiberalLoner Dec 2012 #35

Dec 3, 7:47 AM EST AP IMPACT: CHINA OVERTAKING US AS GLOBAL TRADER dkf Dec 2012 #12

Oh Noes! We'll lose our national healthcare leftstreet Dec 2012 #17

Who pays the income taxes in this country? dkf Dec 2012 #26

You really should stop watching faux news... daleanime Dec 2012 #32

Actually, Ma'am, That is Not True The Magistrate Dec 2012 #33

Are you trying to pretend that the rich have paid over 93% of all taxes paid since Vincardog Dec 2012 #34

Thx for giving us the Ruling Class perspective leftstreet Dec 2012 #37

Are you kidding? That is just a run of the mill Rex Dec 2012 #42

reality, thank you dkf Puzzledtraveller Dec 2012 #6

Plutocracy is Plutocracy no matter what flag one pledges allegiance to. HughBeaumont Dec 2012 #7

Tell that to Samsung. dkf Dec 2012 #10

You buy Samsung stock... femrap Dec 2012 #27

I don't find "what about the Chinese?" arguments to be that much more compelling... Major Nikon Dec 2012 #14

I'd rather they leave. JDPriestly Dec 2012 #16

I'm willing to take that chance. sulphurdunn Dec 2012 #18

Every Time Someone Screams China. I Scream Germany. Yavin4 Dec 2012 #19

I'd gladly live femrap Dec 2012 #28

Let the rich leave Madmiddle Dec 2012 #21

+1 leftstreet Dec 2012 #41

I would prefer that our government stop underwriting the rich. LiberalAndProud Dec 2012 #22

This message was self-deleted by its author devilgrrl Dec 2012 #31

Same argument the Oligarchs used to create the Mega-Banks. Ikonoklast Dec 2012 #38

Don't forget, they do not go to jail either, ever! Dustlawyer Dec 2012 #8

It's simply a race to the bottom which ultimately benefits neither the rich or poor Major Nikon Dec 2012 #13

Corporate profits are at record highs while wages continue to fall relative to inflation. byeya Dec 2012 #20

I don't think that last line about creating a category for the magical accumulation of wealth brewens Dec 2012 #25

Emphatic K&R! Full article is well worth the read, imho - n/t coalition_unwilling Dec 2012 #29

It's nice to see such a large swath of America isn't in Wall St. raouldukelives Dec 2012 #30

"The comfort of the rich depends upon an abundant supply of the poor." Voltaire Tierra_y_Libertad Dec 2012 #39