MF Global undermining US financial system
MF Global undermining US financial system

Jesse’s cafe links to a pointed video Players in the MF Global saga tell their stories:

“Threatens the credibility of the whole US financial system

The entire video is worth watching. But if you are pushed for time, listen from the 3 minutes to 4 minutes. It’s devastating.

James Koutoulas comes on at around the 8.30 minute mark:

“I have been told by multiple members of the media that JPMorgan Chase has called them and stated that if their media outlet has me on television again, that JPMorgan Chase will pull their advertising from the offending network.”

Given the turmoil which will arise as people across the Western world experience declining living standards, I’ve been pondering radical versus gradual reform. Burke of course comes to mind. Good quote of his on Jesse’s Cafe:

“When bad men combine, the good must associate; else they will fall one by one, an unpitied sacrifice in a contemptible struggle.”

A good justification for political parties and factions within them. Both of these tend to mutate from being forces of good to ill, revealing a deeper aspect of reality. The works of man inevitably corrupt. From time to time they need to be reformed. Democracies typically manage this peacefully. Let’s hope they can do so again. Faux change risks revolutionary rather than evolutionary reform.

Revolutions tend to consume the good along with the bad. They inevitably involve bloodbaths and much injustice. Let’s avoid that path. Lets start creating real change, while peaceful change is an option. It will not always be. Then we will face anarchy or despotism. Some may already do so.