Laura’s Reviews > The Quiet Coup: Neoliberalism and the Looting of America > Status Update

The Kochs and other pro free market suddenly became proponents of the nanny state, when their assets were threatened. As long it was just the poor who were affected by unregulated markets, they were loudly against
government handouts! “Capitalism for thee but not for me.”

As Obama said,”There is no dividing line between Main Street and Wall Street.”

With the 2008 financial crisis, neoliberal economist Pisner admitted that economists have not figured out how the economy wotks. Mathematical formulas do not take fear and market irrationality out of the equation.

Debt is has become the dominant force shaping the US and the world economy.

Derivatives are synthetic and engineered financial instruments built on top of real assets.

It took just a few days of panic in 2008 to bring down the entire system because basic trust has no substitute Banking is inherently risky.

There is no finance without the law. Finance is heavily invested in controlling laws via lobbying and friendly regulators(in house and can get a job offer later).

In a few short years during the Reagan administration,regulators and legislators transformed the economy by changing laws that prohibited banks from foing what now was legal:taking risks with other people’s money. Legal corruption!

It all leads to monopolies. Is that really a free market ? Look at what our healthcare system is now. Hospitals buy up physician practices and because they have a monopoly, can charge whatever they want! Facility fees for routine visits! Legal corruption! Immoral!

Commodities Futures Modernization Act of 2000 is a 700 page law to prevent regulation of derivatives! Let’s see Eon Musk make that efficient!