Every time you buy a stock, invest in a company, or purchase some sort of derivative, you're "speculating" that the value of what you bought will increase. You do the same thing when you go to work and get a paycheck, in that you are speculating that the check will cover your bills at the end of the month. Speculation is just another word for betting or wagering, and we all wager, all of the time, on everything that we do, but we don't think about it most of the time because the odds are so low that they don't register. The difference between professional "speculators" is that they calculate the risk and then follow the calculation in the hope of realizing a gain over a shorter period of time, but that's not inherently evil. Markets correct for that all of the time, and most high risk speculators lose their shirts over the long haul. The only thing that keeps this from happening is when government comes along and decides that this speculator is too big to fail, or that one deserves to win because he's green (and happened to donate to the proper election campaigns). But the OWS crowd doesn't get that, because the don't get the difference between a free market and a crony market, or between productive investment and compulsive gambling.
And if those banks are making their money through crony practices? How is that Capitalism?
Are you saying your all for this?
Um....this is what led to the 2008 crash paving the way for the TARP mess....which was regulators not doing thieir jobs properly, because they were in bed with the banks who were engaging in massive speculation through derivatives trading. That's crony Capitalism friend.
But don't listen to me....I'll let some much smarter speak.
"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs." -- Thomas Jefferson, U.S. President"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it's issuance." -- James Madison"Give me control of a nation's money and I care not who makes it's laws."-- Mayer Amschel Bauer Rothschild
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