I might not mind corporate oligarchy so much if it weren't so damned incompetent.

[Deep13]

Isn't the present state of economic distress with its Wall St.-induced financial collapse the very thing the neocons claim their way of doing things is supposed to prevent. Isn't pro-big business supposed to equal economic stability? Guess not.

[TheKentuckian]

1. No, it is repugnant on principle.

Their execution being abysmal and seemingly insane just makes matters that much worse.

A complete clusterfuck of a disaster is far too reserved language to describe the mess these fuckwits and evil souls running the ship on a collision course for the bottom of the sea we have.

[lib2DaBone]

4. Well said +1

[Deep13]

7. Sure it is. I'm just being sarcastic. nt

[renegade000]

2. corporate oligarchy is effectively the same as government oligarchy

Why the laissez-faire crowd doesn't understand this is beyond me.

Many industrialized countries, particularly Nordic ones, have found a much better blend of capitalism/socialism than we have, such that the excesses of both are better kept in check...

[Selatius]

3. The collapse incidentally helped to serve the purpose of the wealthiest.

It transferred a good portion of the wealth from the bottom 90% to the top 1%.

Aside from that, no sane economist would support an oligopoly in any market. Healthy competition does not exist in a market dominated by just three or four competitors, with the rest of the competitors fighting over the spare change. Such a market is prone to price fixing and overt and covert collusion. Anti-trust laws were established in 1890 in order to combat such abuse, and if the laws were actually applied, none of these banks would be allowed to grow to the size they currently are.

[lib2DaBone]

5. Absolutely.. it's all about transfer of wealth.. I read today about Blackstone Group...

If people want a very interesting bit of reading.. google "Blackstone Capital Group"... (Obamas's good buddy, Pete Peterson) and see what they own.

It is STUNNING. They own almost EVERYTHING.

Sea World, Universal Studios, TRW Auto Parts, Hilton Hotels, Houghton-Mifflin (school books),
Apria Health Care, Pinnacle Foods, The Weather Channel, LaQuinta Inns and Hotels, Waste Management, Allied-Barton Security.


Two years later, in 2005, Blackstone was one of seven private equity firms involved in the buyout of SunGard in a transaction valued at $11.3 billion. Blackstone's partners in the acquisition were Silver Lake Partners, Bain Capital, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts, Providence Equity Partners, and Texas Pacific Group. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. Also, at the time of its announcement, SunGard would be the largest buyout of a technology company in history, a distinction it would cede to the buyout of Freescale Semiconductor. The SunGard transaction is also notable in the number of firms involved in the transaction, the largest club deal completed to that point.<61> The involvement of seven firms in the consortium was criticized by investors in private equity who considered cross-holdings among firms to be generally unattractive.<62><63>

In 2006, Blackstone launched its new long / short equity hedge fund business, Kailix Advisors. According to Blackstone, as of September 30, 2008, Kailix Advisors had $1.9 billion of assets under management. In December 2008, Blackstone announced that Kailix will be spun off to its management team to form a new fund as an independent entity backed by Blackstone.<17>

While Blackstone was active on the corporate investment side, it was also busy pursuing real estate investments. Blackstone acquired Prime Hospitality<64> and Extended Stay America in 2004. Blackstone followed these investments with the acquisition of La Quinta Inns & Suites in 2005 and its largest transaction, the buyout of Hilton Hotels Corporation in 2007. Extended Stay Hotels was sold to The Lightstone Group in July 2007 and Prime Hospitality's Wellesley Inns were folded into LaQuinta.<65>
------------------------

Keep Moving.. keep morphing.. that way the Dolts and dead-beats in CONgress will never be able to figure it out.

[uponit7771]

6. I'm hip!!! They are smug about their stupidity too!!

[SharonAnn]

8. Corporate Oligarchy is actually VERY competent! They're in it for themselves.

And they make sure that they're very well taken care of. Their companies may go bankrupt or need to be bailed out by taxpayer, but they're personally OK.

It's only the "little people" who get creamed.

You have to clarify what they desire to be competent at. The desire to be good at lining their own pockets, and they are definitely good at that.

The rest is all just lies and smoke and a "con job".