"..Capital, it seems, involved in speculation has made risk a commodity; it speculated on risk; and the risk-commodity has established a number of relationships that connects individuals, institutions, practices, procedures, regulations. But still it – risk-commodity – is difficult to define. “A commodity is … a mysterious thing…,” says Marx (Capital, I, ch. 1, sec. 4) Monopoly-finance capital, which is now engaged with speculation with risk and illusory financial products, has made financial-commodity, it produces and trades with, more mysterious. It is not a simple commodity. In it “human brains and nerves, and muscles,” as Marx tells, “and in this sense are human labour” (ibid. sec. 2) is spent. State machines, directly and indirectly, formally and informally, serve them, for which the machine has been assembled..." “...[T]hree years after our [in the US] horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail …” (Charles Ferguson, director, Inside Job documentary, while accepting the Oscar for best documentary in 2011, quoted by Housel) Morgan Housel informs in his column: “After the savings and loan crisis of the early ’90s, 800 financial executives went to prison. Not only have most bank execs avoided prosecution this time around, but many are still gainfully employed by the banks that ran the economy into the ground.” (Fool.com, Apr. 26, 2011) The NYT queried: “It is a question asked repeatedly across America: why, in the aftermath of a financial mess that generated hundreds of billions in losses, have no high-profile participants in the disaster been prosecuted?” The NYT replied: “Answering such a question — the equivalent of determining why a dog did not bark — is anything but simple. (Apr. 14, 2011)"...
"..All aspects of the Great Financial Crisis have still not been identified, debated and discussed. This is needed as the crisis is making impact, on the one hand, on the lives of the people, and on the other hand, on capitals, and classes that own these capitals, and dominate the present geoeconomy and geopolitics. These will make far-reaching impact on the ruling classes and peoples’ struggles in many lands." *Dhaka-based freelancer Farooque Chowdhury contributes on socioeconomic issues. One of his books is The Age of Crisis.* http://www.countercurrents.org/chowdhury220611.htm You cannot build anything on the foundations of caste. You cannot build up a nation, you cannot build up a morality. Anything that you will build on the foundations of caste will crack and will never be a whole. -AMBEDKAR http://venukm.blogspot.com http://www.shelfari.com/kmvenuannur http://kmvenuannur.livejournal.com -- You received this message because you are subscribed to the Google Groups "Green Youth Movement" group. To post to this group, send an email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/greenyouth?hl=en-GB.
