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Laura's avatar

It's good to hear he's optimistic about fixing this, but I can't imagine why. So long as there are countless hubs to store billions safely and quietly, like in the US, nothing will change. And when some get shut down, others will pop up in their place. Multiple US states are tax/money havens, and London is practically owned by the Russian oligarchy. But I'll keep an open mind and hope knowledgable people like Mr. Michel are right.

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Steve Rasmussen's avatar

For far too long, this nation has been afflicted with what is known as regulatory capture, where our oligarchs had so much power that they could stifle most regulatory attempts to control their activity. This was seen in the stifling of the Clayton and Sherman anti-trust acts. Even though these regulations were on the books, they were rarely used, therefore we ended up with monopolies and oligopolies that destroyed competition and fixed prices. It's hard to call that capitalism. Anti-kleptocracy laws run the same risk as the anti-trust laws; they might be skirted by those who don't want to obey the law. The specter of lobbying will always be a factor, as long as it is legal. Congress can be bribed to look the other way.

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