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CNN: Corrupt Capitalism

Perfect Example Of Why Capitalism Doesn't Work!

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9 Comments

Current View: 15 / Show all Comments

Red Heaven : LVL 39: VP 4.7: said:

Red Heaven

3 votes NegativePositive

41 days ago...

^
Are we even watching the same video? The firm THL acquires Simmons bedding company while they were nearly bankrupt. THL then loans them money, knowing Simmons can`t pay it off. This puts Simmons in more debt.

As the company, Simmons, continues to collapse and borrow to save itself, THL gives more and more. Since they`re loans, its even bigger debt for Simmons to pay.

Why?

So that THL could pay itself millions in dividends. This is like having a rickety wooden boat that is sinking (Simmons). A company, THL, buys the boat and then sells the boat heavy water pumps. However, the weight of the water pumps is causing the boat to sink more. So the boat has to buy more pumps because the water is coming in more. But the big, steel pumps only cause more sinking.

However, THL is making a bundle selling pumps.

This is absolutely deplorable.

Red Heaven : LVL 39: VP 4.7: said:

Red Heaven

1 votes NegativePositive

40 days 22 hours ago...

^

Again, I think you`re missing the point. There is a practice of acquiring failing firms and making money off them as they fail.

THL is making money by loaning to a company trying to stay above the water. However, they do this knowing that the company will never be able to repay the accumulating debt.

It is parasitic. These firms are making money by WILLINGLY funneling money into Simmons. You keep saying "dumb investors" and "stupid creditors" like they have no idea what they`re doing.

They`re doing this entirely on purpose and with no beneficial consequence aside from profit. If this was real, honest capitalism they`d let Simmons collapse and not have purchased it in the first place.

blade9z : LVL 34: VP 4.2: said:

blade9z

0 votes NegativePositive

40 days 13 hours ago...

well, Flynn_2006 wait til you are the position to be fucked like that than you may have a different opinion on this. Your example is capitalism works for individuals who is in the right position, but in this case it failed the country as whole. What you are saying is, you lost your job/money because you are stupid to be bored as yourself, not because of these greedy fuckers.

sato : LVL 31: VP 4: said:

sato

0 votes NegativePositive

40 days 9 hours ago...

flynn so you say capitalism rewards honest productivity, in what way is deliberately bankrupting a company so you can profit honest or productive? profits were made by the destruction of a company that was actually producing something (bedding), so in this case capitalism didn`t work.

nerdicus : LVL 35: VP 4.3: said:

nerdicus

0 votes NegativePositive

40 days ago...

Flynn, capitalism most certainly does have a personality, and it is that of a sociopath. Honesty has nothing to do with anything that gets businesses ahead.

Basic business practice is, at best, corrupt. That it is lawful is moot, as the laws are made by those who support and foster the capitalist system.

nerdicus : LVL 35: VP 4.3: said:

nerdicus

0 votes NegativePositive

40 days ago...

Also, your opinion on a system that won`t let you fail won`t let you learn is ludicrous. You don`t have to fail to learn, but it can serve as a good way to learn.

Mister : LVL 31: VP 4: said:

Mister

0 votes NegativePositive

40 days ago...

If we look back a few years, we see that communisim didn`t work either. In theroy, an economic model works fine and dandy; whether that be capitalism or communism.
What we fail to see is that mankind and mans vices distort the model when applied. This is not the fault of the economic model, but of man.
Mankinds greed, evny, jealiousy ect... will ALWAYS pevert a theroetical model.
Its simular to a toddler wanting anothers toy just because the other enjoys playing with the toy. The first toddler wants the second toddlers joy and will take it from him; we don`t blame the toy for being fun to play with.
As a spiecies/society we have to mature before any theroetical model will succed.
Don`t blame the model for the practioners weakness.

generic_imitation : LVL 38: VP 4.6: said:

generic_imitation

0 votes NegativePositive

39 days 11 hours ago...

someones messages have been deleted... or everyone is talking to themselves.

DSeifer : LVL 34: VP 4.2: said:

DSeifer

0 votes NegativePositive

37 days ago...

no, realized he didn`t know what he was talking about and tried to avoid the embarrassment.

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