How Greed in the Financial Sector Tramples on Human Rights (Il Sole 24 Ore, Italy)
What is at the root of what’s wrong with our economy and our civil society? Weaving the issue of the U.S. death penalty into the global financial crisis, columnist Guido Rossi of Italy’s Il Sole 24 Ore is unequivocal: our system of ‘financial capitalism’ has slowly but surely eaten away at the fabric of society, which demands protecting the rights of not only the powerful and well-connected, but of the average person as well.
for Il Sole 24 Ore, Guido Rossi writes in part:
Nearly unnoticed, a shocking piece of news recently passed newspaper front pages. It concerns the recent imposition of the death penalty against Troy Davisz, a Black man accused of having killed a White policeman more than 20 years ago in the state of Georgia, where racism is a very rooted phenomenon.
At this point, one might ask why, in my opinion, a death sentence in the state of Georgia bears such serious reflection during this devastating economic crisis. The connection is obvious, for the incapacity to resolve the crisis is on every side attributable to the weakness of governments and political institutions. The crisis is therefore more institutional than structural.
A striking example of how far down the U.S. Supreme Court has fallen is last year’s decision on Citizens United v. Federal Election Commission. Relying on the very first amendment to the U.S. Constitution – the human right to free of expression – it chose to protect the freedom of large financial companies to spend unlimited corporate funds to help elect political candidates. This encourages a dangerous overlap between business and politics and opens the door to the phenomenon of bribery.
It is the cultural dominance of the financial economy that has removed the fundamental rights of the citizen and weakened protections for workers and the lower classes, transferring such guarantees to consumers and the interests of speculators. But even as economists dare to continue declaring that America is certainly in a better situation than Europe, going to far as to cite their Nobel prize winner Gary Beckerz, who said that the state has a “moral obligation” to use the death penalty, they may soon come to realize that the true crisis that led to the dominance of the financial sector over the real economy and the impact of financial capitalism on democratic institutions is what has rendered us powerless to resolve our problems. Fear, insecurity, hard to assert rights, an unbearable gap between rich and poor and unstoppable economic decline are not only due to a lack of European leadership, which European Commission Chairman Jacques Delorsz lashed out against. Nor are these problems due to the political incapacity of Obama, who is often oblivious to international law and human rights. Nor can they be simply attributed to the dictatorship of a shameless parliamentary majority in Italy.
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Excellent commentary, right on the mark.
I get it, he is against the death penalty and greed.
He’s right on the mark with regard to how our Supreme Court has failed us and made buying votes legal, but statements about our country being “greedy” need a “yeah but”.
Going for all the gusto you can get is the principal make-up of capitalism. It works really well if you have a few rules and regs to keep everyone in line. It totally falls apart if you let banks and hedgefunders gamble with other people’s money. You can’t let them package rotten real estate deals together and sell them while betting that these same deals will fail.
Nuclear engery is a great thing, but it has to be contained, controlled and monitored. It is the same with U.S. business.
With Big Business paying elected officals to not pass regulatory laws, and the Supreme Court making it legal to do so, a constitutional amendment is the only thing that is going to save us from totally being run over by Big Money.
What constitutional amendment?
dduck… you can read about movement to “get money out” on link below.
http://www.politico.com/blogs/onmedia/0911/Dylan_Ratigan_campaigns_for_constitutional_amendment.html
I prefer Colbert over Ratigan, Stewart and especially Maher.
BTW: If anyone thought Obama was poor as a candidate, should check this out:
http://www.nytimes.com/2011/10/17/us/politics/big-cash-edge-powers-obama-in-drive-for-2012-election.html
Greedy banks and investment corporations are raking in huge profits while millions are out of work. These huge corporations won’t push there conservative and Tea Party allies into voting for the jobs bill. They continue to increase profits and raise fee’s on the middle class. Capitalism is running amok and Cantors best explanation is it’s not the system; it’s the Mob, were divisive, and anti capitalists at best Un-American. It is a clear signal they have no intention of relenting on there investment and jobs blockade. They refuse to acknowledge the part they played in the last administration and there collaborative responsibility they played in devastating the economy, crippling the mortgage and jobs market while bogging us and our economy in needless wars.
Brothers and Sisters those that support this unregulated, morally deprived form of Capitalism are being managed by an inept, apathetic, unmotivated and morally depraved democratic government. It needs some motivation, inspiration, moral definition and responsibility. We the 99% can give it to them! Let’s organize; co-ordinate the world wide support from this week ends events and build a world wide 99% movement! Everyday, Everybody and Everyplace Occupy Nations. Lets give this congress of fools a run for there money!
Our political system is overwhelmed by the power and money of the conservative right wing and it’s corporate and wealthy oligarchy. These organizations are moving to consolidate there power and money they are on the verbal onslaught, followed by police violence, brutality and poised to repress their own citizens.
GOP candidate Ron Paul offered a solution today while campaigning in Nevada to the ills of our economy just do away with it! Cut 5 departs from the government almost all oversight on Air, Water, Labor, fair housing and Education. Can you imagine if these corporations or the oligarchy were to be left to their own devises? We would be economic slaves to a hierarchy of greed and intolerance! That’s not enough he wants young people to opt out of Social Security and take there chances as bate for the investment corporations while giving those same corporations billions in tax breaks which have already proved to fail. Giving the wealthy oligarchy and corporations more revenue doesn’t create jobs it allows them to rake in huge profits like B of A. After we bailed them out they laid off 10’s of thousands of workers with no intention of re-hiring. Now there posting record profits and raising fee’s.
When unemployment world wide is at its highest level and the 99% has had to bailout and now carry the failure and mess of the capitalist’s greed and abuse. The ever complacent democracy has failed the 99%! Occupy Wall Street is expanding world wide. President Obama has made statements in vague support of the movement. It is time for progressives (and I use that term loosely) and liberals in congress to step up and commit to the 99% It is time to demand change. Give us major support; we need jobs and a major overhall of the apathetic and blundering congressional institutions that have failed the people. People before Profits, lets make them pay for our votes with jobs and fairness. Dump B of A, Citibank, Wells Fargo go to local banks and credit unions Occupy Your Money, Stand together and Rise up Angry Occupy Nation, fah451bks.wordpress.com We Resist! ?
Yea the Supreme Court really screwed us with Citizens United. I mean, is it even possible to be caught for bribery now under the new laws? Seems that if I have a pile of money and want to pay a politician to make my life easier there is no way I can be found guilty of illegal activity now.