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Published on Friday, April 13, 2012 by The Guardian/UK
Jeffrey Sachs: Wall Street Sense of Entitlement is Beyond Measure
Jeffrey Sachs in conversation at the Guardian Open Weekend. Professor Sachs talks about socio-economic psychology and the sense OF entitlement exhibited by Wall Street bankers who, having been bailed out to the tune of $1tn after nearly destroying the world economy, then lobbied for no regulation.
© 2012 The Guardian/UK
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16 Comments so far
Show AllExcellent comments from Mr. Sachs. Wall Street and City of London Banksters are total SOCIO-PSYCHOPATHS!
Our legislative bodies are owned and controlled by these craven criminals who don't know the difference between right and wrong. The regulators and the courts are in bed with them as well. The rot and corruption is system-wide. And they own all the major channels of communication. The mainstream media. Higher Education. The LIBERAL CLASS, as per Chris Hedges, has sold out the country. If this cesspool is not cleaned up and soon, I fear we'll see real violence in this country. I don't expect our corrupt politicians will rise to the challenge. They have made their bargain and they don't ever gather for a coffee in a cafe with real people or walk a neighborhood to gauge sentiment.
So, I see no hope that justice will be served.
The culture of Goldman Sachs is the same up and down Wall Street! They are all thieves. Maximize profits, no matter what it takes to do it. That's the mantra. Crash Greece? Who cares? I got rich. That's all that matters.
It makes me sick to have to commit any money to a system of investing for future retirement and old age that is essentially a casino on steroids, with seemingly no one in charge. It should be shut down. Reform looks impossible.
rgardener, I agree with everything you said. You said it well. What concerns me most is that the media and police are doing a real mind bending job of convincing the general public that we should turn against each other when this all falls down!
We need to be very clear....this economy and the state of our environment is the FAULT of the greed at the top of the food chain. We need to direct our wrath upward not downward!
Inanna,
Thank you for your kind words. Your observations are spot on. The FAULT is with the feckless greed of the 1%. The media (whose bosses are the 1%) have been on such a continuous rant and did a horrible disgusting job (a real intentional hatchet job) covering the Occupy protest movement. Divide and Rule. That's the modus operandi.
I further agree -- protesters need to be more careful than ever not to get sucked into fighting back, or fighting with each other. The problem going forward is how long can one not fight back, when treated brutally for no reason? It's natural to want to defend oneself. Not all police are knuckleheads, but they are often borderline delinquents and sociopaths who love to mix it up. Incredibly, when we as a society are at this major crossroads, with a dying economy, and citizens trying to will a better future, these riot police seem not to get it or care. It's just physical with them. No brain involved. They ignorantly go on the offensive with their power, knowing they have the advantage, knowing they have the media behind them. I believe, with all the unconstitutional draconian measures this Congress has put in place, that it will not take much further provocation at all to act on them.
to rgardener98 said
>br>
((SOCIO-PSYCHOPATHS!))
They don't understand, they are not kidding...
They truly are, SP CONGENITAL ABSENCE OF CONSCIENCE.
>br>
To really see it with a microscope, it takes long studies in psycho-analysis, similar studies or some pretty horrific life experiences that mark one for life. Ramsfield does a pretty good job with his know/unknown.
Many thanks to competition & dog eat dog reach the top & create this concentration of cannibals that constitutes the pack of VAMPIRES we have TODAY.
>br>
nO TERROR nO TORTURE, jUST truth..
For an excellent satire on the mindset of Wall Streeters as they meet with the homeless on the streets of NYC and as they take their vacations and buy their designer everything, see Bret Easton Ellis' "American Psycho." WARNING: The graphic violence is nauseating, however.
SICKO II: Wall Street
These greedy Wall Street Psychopaths who own the U.S. Congress and have literally destroyed American democracy are the reasons why the Occupy Movement should be multiplying their numbers, being more bold, more determined, and understanding that any radical social change rests exclusively with them. Massive nonviolent activism is the only solution, putting the fear to Wall Street for radical financial reform.
This isn't merely talking the talk, for as an activist, I have been walking the walk for the past 12 years. The truth is my opium.
It is very discouraging for me to hear so many CD posters and gutless Americans who have little faith in nonviolent civil disobedience.
Stephen and rgardener, Your positions are juxtapositioned as either this/or that. I have been involved with OWS and have also questioned civil disobedience like rgardener. I was involved in the protests in Chicago on the Eve of the Iraq invasion. I have witnessed firsthand how the police have only one objective.....contain the protest! I have a close friend who is a Chicago cop. He tells me about the training they are getting in riot control. This country is a ticking time bomb!
Stephen, no one can tell you to stop protesting. rgardener, no one can convince you that civil disobedience is effective. Sadly, you're both right. I'm afraid "some" protest will occur.....not enough mass to overthrow this system tho. This will just have to play out. It's going to play out. No one knows what the end result will be but the best case scenario would be overwhelming resistance to the present system that is corrupting the planet. What that will look like is anyone's guess.
Actually, Inanna, I am not questioning, and don't question the need for civil disobedience. It's our Constitutional right! I have just come to the belief that, because of who we are as Americans, products of years of American Dream propaganda while fear of Authority has been pounded in, that there are not enough Americans who will wake up and join this protest movement, in the kind of (overwhelming) numbers necessary.
I truly wish we had teachers and leaders around like Thomas Jefferson, who would be cool with this desire for a deep cleaning out of the rot -- all these assholes care about his holding on to their ill-gotten gains. The rest of us can go to hell.
Jefferson was a very rich man. So would he not now be with the 1 percent?
How can anyone know the answer? I was merely trying to analogize Jefferson's feeling as to how sacred the Constitution was at that early time, when the revolutionary war was waged against tyranny. Jefferson believed that it takes about a generation for tyranny to take hold, and that the systemic rot should be cleaned out about every 20 years...or something to that effect...don't hold me to an exact reading.
I echo your sentiments, Steven. Here's where I disagree -- democracy is already destroyed.
It's a total sham. Candidates are selected, not elected, even before election day arrives. It's absolutely shameful for us to use "democracy" as the triggering excuse to invade other countries, destroy them, and install our banking presence, our oil companies and puppet leaders. We should be the last country in the world that others would want to model. It's a shame we control the ICC; otherwise, so many of our past presidents, including the present occupant, would be serving jail terms for war crimes.
Nonviolent civil disobedience always has a chance to foment change. Change never comes without a demand for it. You're right, the apathy is discouraging. But in the times we live in, with and because of the awesome police state violence witnessed last fall, perpetrated mostly by the police against mostly non-violent demonstrators, there is no where near (yet) the "critical mass" of citizen presence in the streets to scare the system enough that real, clean-out type of change needed, could occur. Not even close.
Now that the fascist and totalitarian 2012 NDAA has turned up the psy-ops screws in such a terrifying manner against all manner of dissent, it most likely will succeed in preventing "critical mass" from occurring, here in America. They don't want it to get anywhere close, which is a total violation of the Constitution. Since when has that stopped our elected representatives, who do the bidding for the powerful.
Although a cleaning up of the rotten corruption that is our government and corporate financial sector -- this wonderful "private-public" partnership they love to wax poetic about which in reality is fascism (inverted) -- would feel like a new lease on life for citizens, the odds it happening unless backed by real force, force ordinary citizens can't muster against the technological monster that makes up DHS, are slight to nil. Will there be enough switching sides to the Good Guys (us) to defeat treasonous high crimes and misdemeanors of our elected representatives? It's a scary question. It's beginning to look like the only question.
It is abundantly clear that Wall Street & The City Banksters are as much of an existential threat to the planet Earth as the fossil fuels and nuclear industries.
World of words is barking at the wrong tree. Wall street operations are only the result of the shareholders acting as elected officials making the monopoly laws and leaving the society outside. Politics is the answer but the world of words' zero level support is not to be changed soon nor acknowledged.
This is absolutely true and I believe it also applies to the congress of the United States whose corruption and sense of entitlement is beyond any possible repair as they are the only ones with the power to fix it themselves. The presidency has also become so corrupted by money that there is almost no chance that any administration would even bother to make a serious attempt to change anything. It is really a hopeless situation.
Change will come when Mother Nature puts her foot down. Americans are not good at political analysis or long range planning. It will take a series of climate disasters to awaken them and to bring down the rotten political system.