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Blame Barclays, Not Capitalism

John5840 Wrote: Jul 11, 2012 10:39 AM
Goldberg lives in a a fantasy world, but he sometimes shows signs of emerging into reality. He realizes that big time financial and market criminals should be prosecuted, but he neglcts to address the fact that the right wing will lead the fight against any sort of corporate or fiscal accountability, ably backed up by the left wing. The right wing has supported, almost without reservation, a reduction in regulation and accountability for corporate malfeasance. They celebrated to firm establishment of corporate personhood, whcih allowsd big money to buy elections and protects individual malfeasance at the same time.

Why aren't more people furious about the Libor scandal?

That's a question mostly being asked on the political left these days, and they're right to ask it.

Here are the basics: Barclays is the second-largest bank in Britain and one of the largest in the world. It has admitted to U.S. and British regulators that it manipulated the London interbank offered rate, or Libor, which basically measures how much it costs banks to borrow money from one another for various periods of time. If you ever read the fine print on a home mortgage, credit card agreement or car loan, you've...