Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Thursday, May 02, 2013

Jeffrey Sachs: Wall Street Case Shows 'Pathological System, Out Of Control'

Just days after saying Wall Street is full of "crooks," top economist Jeffrey Sachs continues to bring the hammer down on financial institutions.

Dr. Sachs, special adviser to the UN secretary general and the director of the Earth Institute at Columbia University, said in an interview on HuffPostLive that the country's financial system is not only mismanaged, but also wrought with criminal activity. Sachs used Steven A. Cohen and SAC Capital Advisors' recent settlement with the Securities and Exchange Commission for more than $600 million to illustrate what he perceives to be a "pathological," "out of control" system regulating U.S. financial institutions.

Watch the full video above, or check out the full interview here.

Original Article
Source: huffingtonpost.com
Author: The Huffington Post
Topics: , , ,

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