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Thursday, March 15, 2012

Failing Institutions, Part II

Two more institutions that are failing us (besides the Catholic Church): Goldman Sachs and Citibank (also known as "Shittybank", pardon the crudeness). As for Goldman Sachs, you may have heard that a high-ranking executive just left the organization, then wrote and published a letter in The New York Times, describing the ugly, greedy culture within: Why I Am Leaving Goldman Sachs It's a good and important read, I think. Help yourself, if you haven't already. (link below). The second failed--really failed--institution is, as I said earlier, Citibank. It seems the Federal Reserve tested 19 of the biggest banks in the nation recently and 15 of the 19 passed this "stress test." One that didn't? The third largest bank in the US? You got it. Citibank: Four US banks fail Federal Reserve stress test So here we are, yet again. Two more big institutions, failing the people they should be serving, along with failing the nation. It seems true, that what we need is a mix of free market Capitalism that works but that government that keeps these organizations honest and from over-reaching. (See 3rd link, below). We seem to be victims of huge success that is otherwise now, bringing us down. I say it again, we must get the big, ugly, corrosive, corrupting money from the wealthy and corporations out of our political and election process and system. They mustn't be able to buy our legislators, their legislation, our laws and so, finally, our government. If we don't do that, if we don't kill "campaign contributions" with true reform, nothing will ever change. Links: http://www.nytimes.com/2012/03/14/opinion/why-i-am-leaving-goldman-sachs.html; http://www.bbc.co.uk/news/business-17361899

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