The 10 Worst Corporations of 2008

[mRx 16]

Deregulation and non-enforcement: Non-enforcement of rules against predatory lending helped the housing bubble balloon. While some regulators had sought to exert authority over financial derivatives, they were stopped by finance-friendly figures in the Clinton administration and Congress - enabling the creation of the credit default swap market. Even Alan Greenspan concedes that that market - worth $55 trillion in what is called notional value - is imploding in significant part because it was not regulated.

This is #######. Regulating our economy got us into this mess. And the proposed solution is... More regulation!

The housing bubble was created when the Fed printed off billions of worthless pieces of paper and handed it to Fannie and Freddie. The artificial wealth created an artificial demand. But eventually the piper must be paid, the free market reasserts itself, and the bubble bursts. But of course, the enemy is the free market, and the statist policies are completely overlooked.

A note about Imperial Sugar: This is regulation at it's purest. In order to protect American sugar, high tariffs and quotas are placed on imports to keep the price at a level that the inefficient American sugar companies can compete. Thus, we pay nearly six times the world average for sugar. That's why candy and other tasty goods are so damn expensive. That's why we have that HFCS ####### in everything, cuz it's too expensive to use sugar. So in the end, the only loser is us, the consumers.

Don't forget! Those that employ us are the enemies....Remember that the Democrats newver met an employee they didn't like, it's the employers they hate!

Business is BAD!

And the Republicans never met an employer that they didn't like.

The never-ending cycle of finger pointing get's us nowhere, Kaydee.

[kaydee457 13]

Deregulation and non-enforcement: Non-enforcement of rules against predatory lending helped the housing bubble balloon. While some regulators had sought to exert authority over financial derivatives, they were stopped by finance-friendly figures in the Clinton administration and Congress - enabling the creation of the credit default swap market. Even Alan Greenspan concedes that that market - worth $55 trillion in what is called notional value - is imploding in significant part because it was not regulated.

This is #######. Regulating our economy got us into this mess. And the proposed solution is... More regulation!

The housing bubble was created when the Fed printed off billions of worthless pieces of paper and handed it to Fannie and Freddie. The artificial wealth created an artificial demand. But eventually the piper must be paid, the free market reasserts itself, and the bubble bursts. But of course, the enemy is the free market, and the statist policies are completely overlooked.

A note about Imperial Sugar: This is regulation at it's purest. In order to protect American sugar, high tariffs and quotas are placed on imports to keep the price at a level that the inefficient American sugar companies can compete. Thus, we pay nearly six times the world average for sugar. That's why candy and other tasty goods are so damn expensive. That's why we have that HFCS ####### in everything, cuz it's too expensive to use sugar. So in the end, the only loser is us, the consumers.

Don't forget! Those that employ us are the enemies....Remember that the Democrats newver met an employee they didn't like, it's the employers they hate!

Business is BAD!

And the Republicans never met an employer that they didn't like.

The never-ending cycle of finger pointing get's us nowhere, Kaydee.

Sure it does....You're young. In time you'll come over from the dark side.......

[Trumplestiltskin 5,791]

Deregulation and non-enforcement: Non-enforcement of rules against predatory lending helped the housing bubble balloon. While some regulators had sought to exert authority over financial derivatives, they were stopped by finance-friendly figures in the Clinton administration and Congress - enabling the creation of the credit default swap market. Even Alan Greenspan concedes that that market - worth $55 trillion in what is called notional value - is imploding in significant part because it was not regulated.

This is #######. Regulating our economy got us into this mess. And the proposed solution is... More regulation!

The housing bubble was created when the Fed printed off billions of worthless pieces of paper and handed it to Fannie and Freddie. The artificial wealth created an artificial demand. But eventually the piper must be paid, the free market reasserts itself, and the bubble bursts. But of course, the enemy is the free market, and the statist policies are completely overlooked.

A note about Imperial Sugar: This is regulation at it's purest. In order to protect American sugar, high tariffs and quotas are placed on imports to keep the price at a level that the inefficient American sugar companies can compete. Thus, we pay nearly six times the world average for sugar. That's why candy and other tasty goods are so damn expensive. That's why we have that HFCS ####### in everything, cuz it's too expensive to use sugar. So in the end, the only loser is us, the consumers.

Don't forget! Those that employ us are the enemies....Remember that the Democrats newver met an employee they didn't like, it's the employers they hate!

Business is BAD!

And the Republicans never met an employer that they didn't like.

The never-ending cycle of finger pointing get's us nowhere, Kaydee.

Sure it does....You're young. In time you'll come over from the dark side.......

You're old and jaded Kaydee - resorting to (among other things) racism and bigotry to disguise whatever personal defects make you so bitter and angry

[one...two...tree 2,762]

Deregulation and non-enforcement: Non-enforcement of rules against predatory lending helped the housing bubble balloon. While some regulators had sought to exert authority over financial derivatives, they were stopped by finance-friendly figures in the Clinton administration and Congress - enabling the creation of the credit default swap market. Even Alan Greenspan concedes that that market - worth $55 trillion in what is called notional value - is imploding in significant part because it was not regulated.

This is #######. Regulating our economy got us into this mess. And the proposed solution is... More regulation!

The housing bubble was created when the Fed printed off billions of worthless pieces of paper and handed it to Fannie and Freddie. The artificial wealth created an artificial demand. But eventually the piper must be paid, the free market reasserts itself, and the bubble bursts. But of course, the enemy is the free market, and the statist policies are completely overlooked.

A note about Imperial Sugar: This is regulation at it's purest. In order to protect American sugar, high tariffs and quotas are placed on imports to keep the price at a level that the inefficient American sugar companies can compete. Thus, we pay nearly six times the world average for sugar. That's why candy and other tasty goods are so damn expensive. That's why we have that HFCS ####### in everything, cuz it's too expensive to use sugar. So in the end, the only loser is us, the consumers.

That's not accurate - it was financial undertakings that flourished outside of regulation. I'm not sure what you've been reading on it - but it's not just left leaning economists who are stating that.

....

As for tariffs on imported sugar - that's news to me. We belong to many free trade agreements that have done away with tariffs. On the flip-side of it, we have dumped onto that global market, crops like corn which is heavily subsidized. In fact, that is what I understand the reason why we use corn as a sweetener over sugar.

[mRx 16]

Deregulation and non-enforcement: Non-enforcement of rules against predatory lending helped the housing bubble balloon. While some regulators had sought to exert authority over financial derivatives, they were stopped by finance-friendly figures in the Clinton administration and Congress - enabling the creation of the credit default swap market. Even Alan Greenspan concedes that that market - worth $55 trillion in what is called notional value - is imploding in significant part because it was not regulated.

This is #######. Regulating our economy got us into this mess. And the proposed solution is... More regulation!

The housing bubble was created when the Fed printed off billions of worthless pieces of paper and handed it to Fannie and Freddie. The artificial wealth created an artificial demand. But eventually the piper must be paid, the free market reasserts itself, and the bubble bursts. But of course, the enemy is the free market, and the statist policies are completely overlooked.

A note about Imperial Sugar: This is regulation at it's purest. In order to protect American sugar, high tariffs and quotas are placed on imports to keep the price at a level that the inefficient American sugar companies can compete. Thus, we pay nearly six times the world average for sugar. That's why candy and other tasty goods are so damn expensive. That's why we have that HFCS ####### in everything, cuz it's too expensive to use sugar. So in the end, the only loser is us, the consumers.

That's not accurate - it was financial undertakings that flourished outside of regulation. I'm not sure what you've been reading on it - but it's not just left leaning economists who are stating that.

These financial undertakings were only made possible through the government. The money had to come from somewhere. And since the Federal Reserve is the only institution legally allowed to counterfeit money, and we are forced to use this money through legal tender laws, then the blame can only be laid at one place.

The problem with all modern economists (Left and Right) is that they embrace only one school of thought (Keynesian). They think of the economy as something needing to be controlled by the state. The so-called laissez-faire economics and free market capitalism are things that we do not have, and haven't for many years. Yet, as I've stated before, when artificial regulation reaches the end of the boom cycle, and the recession, downturn, depression, or whatever other clever euphemism is used, sets in, the free market is always to blame. And little do people know, a free-market doesn't exist.

As for tariffs on imported sugar - that's news to me. We belong to many free trade agreements that have done away with tariffs. On the flip-side of it, we have dumped onto that global market, crops like corn which is heavily subsidized. In fact, that is what I understand the reason why we use corn as a sweetener over sugar.

Free trade doesn't require 500+ page agreements drafted by bureaucrats. Again, the "free" trade we have is far from free. Free trade occurs with the absence of government.

These agreements are lobbied for by special interests, and the favoring of few, results in the bleeding of the many.

As far as sugar goes, I've been to a dozen countries, and the US is the only country that uses HFCS as the de-facto sweetener that I've seen.

You're correct about the heavy subsidies for the corn industries. But that is merely a government managerial tool of the economy.

Basically we use HFCS because that is what the government has decided for us. By subsidizing corn and creating quotas and tariffs for imported sugar, they attempt to balance it out. For if an alternative to the heavily regulated sugar industry wasn't found, we would be paying 6 bucks for a Coke.

[HAL 9000 96]

Deregulation and non-enforcement: Non-enforcement of rules against predatory lending helped the housing bubble balloon. While some regulators had sought to exert authority over financial derivatives, they were stopped by finance-friendly figures in the Clinton administration and Congress - enabling the creation of the credit default swap market. Even Alan Greenspan concedes that that market - worth $55 trillion in what is called notional value - is imploding in significant part because it was not regulated.

This is #######. Regulating our economy got us into this mess. And the proposed solution is... More regulation!

The housing bubble was created when the Fed printed off billions of worthless pieces of paper and handed it to Fannie and Freddie. The artificial wealth created an artificial demand. But eventually the piper must be paid, the free market reasserts itself, and the bubble bursts. But of course, the enemy is the free market, and the statist policies are completely overlooked.

A note about Imperial Sugar: This is regulation at it's purest. In order to protect American sugar, high tariffs and quotas are placed on imports to keep the price at a level that the inefficient American sugar companies can compete. Thus, we pay nearly six times the world average for sugar. That's why candy and other tasty goods are so damn expensive. That's why we have that HFCS ####### in everything, cuz it's too expensive to use sugar. So in the end, the only loser is us, the consumers.

That's not accurate - it was financial undertakings that flourished outside of regulation. I'm not sure what you've been reading on it - but it's not just left leaning economists who are stating that.

....

As for tariffs on imported sugar - that's news to me. We belong to many free trade agreements that have done away with tariffs. On the flip-side of it, we have dumped onto that global market, crops like corn which is heavily subsidized. In fact, that is what I understand the reason why we use corn as a sweetener over sugar.

For me its what is allowed to happen impervious to bad regulation that contributed greatly to the mess we're in. Not de-regulation per se, but bad management of the regulation already on the books (and violations in some cases, likely).

[mRx 16]

For me its what is allowed to happen impervious to bad regulation that contributed greatly to the mess we're in. Not de-regulation per se, but bad management of the regulation already on the books (and violations in some cases, likely).

I'm of the mindset that no regulation is good regulation.

Case in point. My mom makes the best spaghetti on the face of the planet. Times are tough for her, as she is divorced, living on SS, and taking care of my Downs Syndrome sister (which is a full-time job). A couple years ago, through heavy encouragement, she embarked on a path to start a business selling her spaghetti sauce. The dream was shot down as soon as it took off, because she soon realized that all the licenses, fees, and liability insurance required to legally operate a business in the US made it unaffordable to her. Regulation prevails.....

So who loses with this particular regulation? Well, obviously my 61 year old mother. But more importantly, you. Because you will never have a chance to experience the best spaghetti on the face of the planet.

[HAL 9000 96]

For me its what is allowed to happen impervious to bad regulation that contributed greatly to the mess we're in. Not de-regulation per se, but bad management of the regulation already on the books (and violations in some cases, likely).

I'm of the mindset that no regulation is good regulation.

Case in point. My mom makes the best spaghetti on the face of the planet. Times are tough for her, as she is divorced, living on SS, and taking care of my Downs Syndrome sister (which is a full-time job). A couple years ago, through heavy encouragement, she embarked on a path to start a business selling her spaghetti sauce. The dream was shot down as soon as it took off, because she soon realized that all the licenses, fees, and liability insurance required to legally operate a business in the US made it unaffordable to her. Regulation prevails.....

So who loses with this particular regulation? Well, obviously my 61 year old mother. But more importantly, you. Because you will never have a chance to experience the best spaghetti on the face of the planet.

Sorry to hear that Matt.

HAL 9000 believes that it shouldn't be an all-or-nothing kind of realm to do business anywhere. Human nature is what it is and there is as much variability in business behavior as there are genetic conditions out there. A balance needs to be struck to ensure proper success for all that attempt a hand at business like your mom vs the proper level of protection for consumers (health, prices, etc) vs the proper level of protection for the business itself (from unfair competition, etc). Such is the way of a free market society.

Indeed now I feel like having spaghetti and meatballs with homemade sauce.

[Heracles 417]

When American companies operate overseas they need to have some sort of Federally mandated ethics to abide by. If corporation xyz goes to a country and rips off the people or does something unethical, this not only reflects bad on them but also damages America's reputation. Especially in second or third world countries where people are more likely to see it as America rather than the corporation being unethical.

Time to hold the corrupt executives accountable for their actions abroad and make them responsible for the affect their actions have on this country. This is how we can show the rest of the world that we are not some corrupt third world nation and hold our people accountable. After all it is all about image.

[Trumplestiltskin 5,791]

When American companies operate overseas they need to have some sort of Federally mandated ethics to abide by. If corporation xyz goes to a country and rips off the people or does something unethical, this not only reflects bad on them but also damages America's reputation. Especially in second or third world countries where people are more likely to see it as America rather than the corporation being unethical.

Time to hold the corrupt executives accountable for their actions abroad and make them responsible for the affect their actions have on this country. This is how we can show the rest of the world that we are not some corrupt third world nation and hold our people accountable. After all it is all about image.

Well - there is plenty of protest about the actions not only of private military contractors and arms manufacturers, but also guinea pig drug testing in the 3rd world for drugs that will be consumed by the 1st.

[rclouse 0]

Although it is too dangerous, too expensive and too centralized to make sense as an energy source, nuclear power won't go away, thanks to equipment makers and utilities that find ways to make the public pay and pay.

They lost me right here.

France would like to have a word.

[HAL 9000 96]

When American companies operate overseas they need to have some sort of Federally mandated ethics to abide by. If corporation xyz goes to a country and rips off the people or does something unethical, this not only reflects bad on them but also damages America's reputation. Especially in second or third world countries where people are more likely to see it as America rather than the corporation being unethical.

Time to hold the corrupt executives accountable for their actions abroad and make them responsible for the affect their actions have on this country. This is how we can show the rest of the world that we are not some corrupt third world nation and hold our people accountable. After all it is all about image.

Well - there is plenty of protest about the actions not only of private military contractors and arms manufacturers, but also guinea pig drug testing in the 3rd world for drugs that will be consumed by the 1st.

Bill has an excellent point there. And having business ethics would cut down on one particularly touchy subject that we flare up from time to time wouldn't it? (HINT: Its initials are I.I.)

[Trumplestiltskin 5,791]

When American companies operate overseas they need to have some sort of Federally mandated ethics to abide by. If corporation xyz goes to a country and rips off the people or does something unethical, this not only reflects bad on them but also damages America's reputation. Especially in second or third world countries where people are more likely to see it as America rather than the corporation being unethical.

Time to hold the corrupt executives accountable for their actions abroad and make them responsible for the affect their actions have on this country. This is how we can show the rest of the world that we are not some corrupt third world nation and hold our people accountable. After all it is all about image.

Well - there is plenty of protest about the actions not only of private military contractors and arms manufacturers, but also guinea pig drug testing in the 3rd world for drugs that will be consumed by the 1st.

Bill has an excellent point there. And having business ethics would cut down on one particularly touchy subject that we flare up from time to time wouldn't it? (HINT: Its initials are I.I.)

Oh yes - I agree certainly.

[HAL 9000 96]

See Bill...

Its beer time!

[Heracles 417]

Case in point. My mom makes the best spaghetti on the face of the planet. Times are tough for her, as she is divorced, living on SS, and taking care of my Downs Syndrome sister (which is a full-time job). A couple years ago, through heavy encouragement, she embarked on a path to start a business selling her spaghetti sauce. The dream was shot down as soon as it took off, because she soon realized that all the licenses, fees, and liability insurance required to legally operate a business in the US made it unaffordable to her. Regulation prevails.....

So who loses with this particular regulation? Well, obviously my 61 year old mother. But more importantly, you. Because you will never have a chance to experience the best spaghetti on the face of the planet.

Sorry to hear that.

Regulation is not to blame though. Take Australia a highly regulated country for example. Yet just look at how well the average Aussie lives. The difference is that over there the federal government would have provided your mum a grant to start her business. Even offered free classes and tutoring for her. All while she received a pension or unemployment benefits as well as aid to assist your sister with negligible medical costs to pay. The costs of starting a business there is probably twice that here, minus the threat of lawsuits.

Being that she lives on SS and taking care of a child with special needs, the government would help her out. That is what we do there, we use our tax to assist those who are in need. Get them on their feet or help those who cannot do so for themselves. Most of us, even conservatives, have no quarrels about do so. Whereas people here with needs or people who are generally poor are basically SOL and pretty much on their own.

Edited November 24, 2008 by Aficionado