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Greed Is Good Update: "Profit Is Not Satanic"

2009_11_greedgood.jpg Barclays CEO John Varley made his case for high executive pay, saying at London's St Martins-in-the-Field church that "profit is not satanic...Talent is highly mobile. If we fail to pay or are constrained from paying competitive rates then that talent will move to another employer," and later said in an interview, "Is Christianity and banking compatible? Yes. And is Christianity and fair reward compatible? Yes." Other bank executives have also been at other London churches to make their pitches—Goldman's Brian Griffiths said, "The injunction of Jesus to love others as ourselves is an endorsement of self-interest. We have to tolerate the inequality as a way to achieving greater prosperity and opportunity for all." We can't wait until American execs try that here! [Via Daily Intel]

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  • Think2wice

    Now the latest economic buzz phrase is "re-enact The Glass-Steagall Act of 1933" which was deregulated in 1980 and 1999 (by the same lead characters in that Frontline episode "The Warning").

  • NannyState

    If Jesus doesn't get his bonus check this year, Kenneth Feinberg is so fucked.

  • inoyourider

    Fuck bankers.

    Making money off usury is for scumbags.

  • starrygordon

    Greed and Christianity have long since been combined. In the United States, it's called the Republican Party.

  • Amanda Harletsch

    "We can't wait until American execs try that here!"



    :





    http://en.wikipedia.org/wiki/Self-Made_Men_%28Frederick_Douglass%29

  • books

    i dont buy that Douglas theory applies today..his line of thinking in would make him republican...





    he claims to be a self-made man you must

    "WORK! WORK!! WORK!!! WORK!!!!"



    if by self made you we mean money/material wealth than thats terrible advice...doing it his way you're limited to the physical constraints of yourself...to be rich today you have to not work, you have to use every economic advantage you get to leverage other people to work for you...then your wealth can grow exponetially.



    I think this is how most people become rich, not by working, but frankly, by being smart

  • Amanda Harletsch

    Social Darwinism is used by those very smart men in high positions to explain their success in very simple terms appealing to people's greed and vanity. What Is truly amazing is how most poorly educated that constitute the republican base believe blindly on this premise of frontier times, to the point of backing People like Palin, Bush, and ignoring the HUGE corporate corruption tied to this "deregulation" "small government" wild west where the "smartest" survives.

  • books

    personally, I'm all for goverment intervention - caps on salaries - forced philathropy, etc.



    i think americans universally have no faith or trust in goverment. republicans have encouraged this - to the point that people argue for free markets, privatization, even in the face of all this evidence things that are centrally controlled things are more efficent, effective, and fair. c'est la vie

  • Amanda Harletsch

    Probably in the UK the NEOCON order of the irrational faith in the darwininan capitalism brought to us by the lord, are not as embedded as it is here in the US, where the Prolife-bible blind fanatics allow and vote for the corrupt as divine mandate of the self made man order.



    "If one were to watch Fox News or listen to Rush Limbaugh -- as millions do -- one would believe that the burden of the ordinary American taxpayer, and the unfair plight of America's rich, is that their money is being stolen by the poorest and most powerless sectors of the society. An organization whose constituencies are often-unregistered inner-city minorities, the homeless and the dispossesed is depicted as though it's Goldman Sachs, Blackwater, and Haillburton combined, as though Washington officials are in thrall to those living in poverty rather than those who fund their campaigns. It's not the nice men in the suits doing the stealing but the very people, often minorities or illegal immigrants, with no political or financial power who nonetheless somehow dominate the government and get everything for themselves. The poorer and weaker one is, the more one is demonized in right-wing mythology as all-powerful receipients of ill-gotten gains; conversely, the stronger and more powerful one is, the more one is depicted as an oppressed and put-upon victim (that same dynamic applies to foreign affairs as well).



    It's such an obvious falsehood -- so counter-intuitive and irrational -- yet it resonates due to powerful cultural manipulations. Most of all, what's so pernicious about all of this is that the same interests who are stealing, pillaging and wallowing in corruption are scapegoating the poorest and most vulnerable in order to ensure that the victims of their behavior are furious with everyone except for them."



    The ethical discussion of capitalism is always avoided, specially for those with the more advantage and the most to loose from awareness.

  • Is running cons on your customers Christian? Pull the other one, maroon. Jesus talked more crap about rich people then he did anybody else. Enjoy!

  • Bike Rider

    xtians are not allowed to charge interest

  • mellow_fellow

    What about the line in the Bible that says "It is easier for a camel to go through the eye of a needle than for a rich man to enter the Kingdom of Heaven" (or however it goes)?

  • JMH

    "The injunction of Jesus to love others as ourselves is an endorsement of self-interest."



    Wow, did he really say that with a straight face?

  • blackwhole

    "...which is why poor people should have to tolerate not being insured and occasionally be called upon to bail out their economic betters. Jesus wants the few to make obscene amounts of money on the backs of the working poor. Judge not the rich lest ye be judged. Amen."

  • mdow

    well done

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