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5 days later, no one knows what went wrong on May 6th.

"Our current economic choice is not between capitalism and communism. It is between locally accountable Main Street markets and Wall Street central planning by predatory global financiers."

Unfree Markets: The Last Gasp Of A (Literally) Bankrupt Ideology

It's intellectually dishonest to have a discussion over the fairness of the tax code and welfare programs without FIRST addressing the inherent inequality of our labor markets, capital markets, access to education, access to the judicial system, access to infrastructure, and intellectual property laws. Fundamentally, if a business leader makes his profits from paying his employees minimum wage at $7.50/hour in an area where a decent livable wage is $15/hour, but where workers have little negotiating leverage and few other options, then it is RIGHT to expect government to tax the business/owner at a high percentage and the workers at a low percentage, and to use tax funds to provide the under-compensated workers with housing and food assistance, as well as other forms of aid. In that scenario, the scenario in which most of our country operates (accounting also for middle-class wage-earners that are under-paid), it is disturbingly unfair to demand that "equality" be applied only at the tax code (even moreso that it only be leveled at the income tax, specifically), as if wealth is earned solely in proportion to some fantastical Randian ideal of personal worth and NOT heavily influenced by real-world power dynamics.

"Pollin, Robert | Heintz, James | Diomande, M. Ahmed Why U.S. Financial Markets Need a Public Credit Rating Agency Publication Date: 7/10/2009"

Agenda: Developments in Financial Markets and the Federal Reserve's Balance Sheet , Term Asset-Backed Securities Loan Facility (TALF), Overall Economy and Consumer Spending, Federal Funds Rate and Unexpected Declines, LIBOR, Broad Stock Price Indices,

The finance industry has effectively captured the U.S. government-a state of affairs that more typically describes emerging markets...Recovery will fail unless we break the financial oligarchy that's blocking essential reform.

After NAFTA caused cheap American corn to flood Mexican markets, putting even prosperous Mexican corn farmers out of business, many fled to the U.S., desperate for work to support their families. Many others were actively recruited by corporations like Smithfield to work dangerous jobs in American factories. Government raids, like the one depicted in the movie, are carried out in collusion with the senior management of companies like Smithfield to "send a message" (to Americans, to the undocumented) while never really interfering with the company's production line or, more importantly, its bottom line.

Sanders/Dodd Audit-The-Fed allows audit of TARP + TALF, but not FOMC, discount window operations, or agreement with foreign central banks. "Even the so called "independent" leftists, Kucinich and Sanders, have both capitulatied to the corporate, class markets and their class despotism, proving they are not real opposition leaders, but phony socialists, phony anti war activists." ~Eric Albert Schwing I read all three versions of the Sanders amendment carefully, and I believe Sanders made a good call if the decision was compromise with Dodd or have no amendment at all. The big differences with the compromise are: -Single audit covering December 1,2007 to May 2010 rather than open-ended audit until all bailout funds are recovered. -Specific parameters on the audit focusing on whether proper procedures were followed and what could be done to improve Fed governance. However it is not clear that the audit is limited to these items. -Fed website still must report lots of previously undisclosed details about the bailout measured-who got what and why. ~bmull

"If you were intentionally trying to chase the last of the individual investors from this market you couldn't have written a better script than "accidental trade vaporizes trillions in value from US stocks". People are just disgusted already."

Today, Adam Smith's Wealth of Nations is considered a Bible for capitalism, but when published in 1776, it was a blasphemous challenge to the big business, big government mercantilism in Europe. Smith's free market theories expanded economic opportunity, promoted competition and encouraged innovation, in large part, by attacking the "concentrated wealth and power" of Britain's commercial elite.

What happens now that democracy's institutions have all metastasized into something dangerous? <<>> What happens now that democracy + free market have fused into a single predatory organism?

Isn't it fiinally time to enact a "basic income guarantee"? The lack of individual and family income security in the midst of a highly-developed economy is a travesty under any circumstances. But the contradiction of "poverty in the midst of plenty" that has plagued the world since the start of the Industrial Revolution is becoming much more grave in the U.S. and abroad. The problem, of course, is one of distribution of earnings, and excess production capacity relative to available income... Winston Churchill gave eloquent testimony to this conundrum of the modern age when delivering the Romanes Lecture at Oxford University on June 19, 1930. This was a few months after the crash of the U.S. stock market marked the start of the Great Depression. Churchill said: "Who would have thought that it would be easier to produce by toil and skill all the most necessary or desirable commodities than it is to find consumers for them? Who would have thought that cheap and abundant supplies of all the basic commodities would find the science and civilization of the world unable to utilize them? Have all our triumphs of research and organization bequeathed us only a new punishment: the Curse of Plenty? Are we really to believe that no better adjustment can be made between supply and demand? Yet the fact remains that every attempt has failed. Many various attempts have been made, from the extremes of Communism in Russia to the extremes of Capitalism in the United States. They include every form of fiscal policy and currency policy. But all have failed, and we have advanced little further in this quest than in barbaric times. Surely it is this mysterious crack and fissure at the basis of all our arrangements and apparatus upon which the keenest minds throughout the world should be concentrated.

Our society may simply disintegrate if the rich win the battle in Congress. The top 1% of the national income strata, having bought up just about all depreciating assets at bargain basement prices, will have increased its portion of total national marketable wealth from about half of it to all of it. This is not a desirable situation at all.

"The business of America is big business with a strategic long-term plan for co-opting world governments, waging permanent wars for profit, dominating everywhere militarily, ending social safety net protections, crushing civil liberties and freedom, tolerating no concern for human rights, controlling global markets and resources, turning workers everywhere into serfs, and extracting, unimpeded, as much public wealth as possible."

"The public bank concept is gaining ground on the state level, attracting proponents across the political spectrum. "