Wall Street crooks, double standards.

Left. 1929 panic on Wall Street. The 2008 collapse avoided a panic because working peoples taxes were used to bail out these crooks and swindlers. The next collapse they will be coming to ask for more help. This is after insisting that the government must stay out of their business when they have been raking in the billions in profits. As the New York Times, October 8th says: "The days of privatizing the profits for Wall Street and socializing the risks must end." In plain language this means letting Wall Street keep their profits and do what they like when they are making profits, but when they get into trouble they are bailed out with our money. The wealth of Wall Street and the financial institutions must be taken over under collective ownership and used to solve the problems of society not fill the pockets of the super rich. This would be a step towards a democratic socialist society.

On this blog we have emphasized the struggle that capitalism puts up to control the consciousness of the working class. Its struggle to get us to think the way they want us to. They are always on about people having to be responsible for their actions, to be accountable, the need for them to pay their debts to society, the need for strong laws to make people act the way they say we should. But when it comes to its own class capitalism has a totally different set of rules. We need to see this in order to prevent them from making us think the way they want us to and prevent them from getting us to accept their system.

Wall Street bribes the politicians and by this means over the last decades they managed to get just about every regulation, that is law covering their actions, removed from the statute books. Let us govern ourselves they cried and the politicians whom they have bought went along and removed the laws. We can police ourselves they cried. Imagine how different capitalism's reaction would be if poor people and people involved in street crime said remove all laws that affect us from the books and let us regulate ourselves, let us govern ourselves. We can police ourselves. This would be laughed out of court but this is what Wall Street and the US capitalist class do. This was a major factor in what the New York Times October 8th 2010, calls the "near collapse of capitalism in 2008."

Then there is accountability. The need to pay your debts in and to society is a big thing the capitalists insist upon when they are trying to indoctrinate us. But what about them? How many Wall Street crooks have been jailed for their billion dollar crimes which devastated the lives of hundreds of millions of people? What about accountability for them? With a handful of exceptions these people are still running Wall Street. And are the laws that are supposed to govern them any better. Again the New York Times October 8th, 2010, it says that the change in the laws covering Wall Street since the 2008 collapse"have not changed by one iota" the incentive for Wall Street to loot the country and bring about another collapse. It explains:"we're no better protected from bankers potential recklessness than we were before the latest round of reforms." Let us be clear another collapse lies ahead.

The author of the article in the New York Times from which these quotes and information are taken advocates that all the bankers and swindlers on Wall Street and the financial system have to be responsible for anything that goes on on their watch. He advocates a change from Wall Street firms being corporations to them being returned to being partnerships and that every partner would have to put all their property, stocks, shares, savings, homes, cars, the lot on the line if their financial dealings brought about the collapse of their firms. This seems reasonable. After all the capitalist class are all for people being accountable for their actions. If a working class person cannot pay their debts then they lose all. We are all for this where the capitalist are concerned.

Of course we know that under capitalism it will never happen. After all it is the capitalist class that makes the laws. We need a democratic socialist system where the unelected profit addicted capitalist class can no longer rule as dictators over society and our lives.