This from a well-known Harvard Business School professor

[existentialist]

http://tpmcafe.talkingpointsmemo.com/This from a well-known Harvard Business School professor:

By Reed Hundt - September 19, 2008, 10:07PM

"Wall Street is the symbol of an industry which for years has described itself as being controlled by a balance between fear and greed. Indeed, the people who talk this way seem to take pride in it.
Any industry that can cause such trouble and which takes into account only fear and greed in its operation is begging for someone to speak up for the public interest. They have dared the government to regulate them. It is a dare that they must lose.
One might also add that any business that markets itself as "too big to fail" is also too big to be unregulated.
Free Marketeers forever quote Adam Smith's famed "invisible hand" metaphor. They interpret Smith to be saying that the sum of everyone acting selfishly will be the public good. If we have learned anything from the mess in which we find ourselves now, it is the untruth of that belief. To achieve a thriving economy - to build a society of which we can be proud - we have to use the brains God gave us. That means positive, active, assertive, informed governmental action. For decades, one political party has told us that government is the problem, not the solution. They certainly aren't acting that way now."

[Psst_Im_Not_Here]

1. Kick!

:kick:

[Psst_Im_Not_Here]

2. Link isn't working n/t

[existentialist]

4. try this link

http://tpmcafe.talkingpointsmemo.com/

[Psst_Im_Not_Here]

5. That one works!

But, in searching for that page I found a FABULOUS article by the same man. In depth analysis of the whole shebang. Check this one out too! LOADS of great info.

http://tpmcafe.talkingpointsmemo.com/2008/09/18/why_it_matters_mccain_vs_obama_1/

[elleng]

3. Reed Hundt

was chairman of the United States Federal Communications Commission from 1993 to 1997. Appointed by President Bill Clinton, he served for most of Clinton's first term." >>>

http://en.wikipedia.org/wiki/Reed_E._Hundt

[Usrename]

6. There's the real problem.

Our opponents don't seem to have "the brains God gave us."

[krkaufman]

7. A direct, working link ...

An observation from Harvard
By Reed Hundt - September 19, 2008, 10:07PM

[DCKit]

8. "...the sum of everyone acting selfishly will be the public good."

Two questions:

In what situation and under what conditions, are selfishness and greed considered to be of benefit in any other facet of society?

Assuming the vast number of traders and brokers are warriors for the American people, patriotic to the bone and possess the hearts of saints, how many "bad" men and women would it take to break an unregulated system?

We've all seen "Wall Street" at one time or another, and though the tagline for the movie is "Greed is Good", the movie demonstrated quite the opposite - pretty much what can, and will, happen when bad people aren't regulated, slapped down and punished the second they step out of line.