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xchrom

(108,903 posts) Fri Jun 14, 2013, 10:14 AM Jun 2013

The Two Centers of Unaccountable Power in America, and Their Consequences by Robert Reich

http://www.commondreams.org/view/2013/06/14-4

There are two great centers of unaccountable power in the American political-economic system today — places where decisions that significantly affect large numbers of Americans are made in secret, and are unchecked either by effective democratic oversight or by market competition.

One goes by the name of the “intelligence community” and its epicenter is the National Security Agency within the Defense Department. If we trusted that it reasonably balanced its snooping on Americans with our nation’s security needs, and that our elected representatives effectively oversaw that balance, there would be little cause for concern. We would not worry that the information so gathered might be misused to harass individuals, thereby chilling free speech or democratic debate, or that some future government might use it to intimidate critics and opponents. We would feel confident, in other words, that despite the scale and secrecy of the operation, our privacy, civil liberties, and democracy were nonetheless adequately protected.

But the NSA has so much power, and oversight of it is so thin, that we have every reason to be concerned. The fact that its technological reach is vast, its resources almost limitless, and its operations are shrouded in secrecy, make it difficult for a handful of elected representatives to effectively monitor even a tiny fraction of what it does. And every new revelation of its clandestine “requests” for companies to hand over information about our personal lives and communications further undermines our trust. To the contrary, the NSA seems to be literally out of control.

The second center of unaccountable power goes by the name of Wall Street and is centered in the largest banks there. If we trusted that market forces kept them in check and that they did not exercise inordinate influence over Congress and the executive branch, we would have no basis for concern. We wouldn’t worry that the Street’s financial power would be misused to fix markets, profit from insider information, or make irresponsible bets that imperiled the rest of us. We could be confident that despite the size and scope of the giant banks, our economy and everyone who depends on it were nonetheless adequately protected.

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The Two Centers of Unaccountable Power in America, and Their Consequences by Robert Reich (Original Post) xchrom Jun 2013 OP

100% on the mark. annabanana Jun 2013 #1

Snail mail. existentialist Jun 2013 #10

Reich has written many important works. This is the most important of all. Octafish Jun 2013 #2

... xchrom Jun 2013 #3

Look for the character assassination of Reich to begin momentarily... villager Jun 2013 #4

1st on my list would be WTO markiv Jun 2013 #5

k&r for the truth, however depressing it may be. n/t Laelth Jun 2013 #6

This message was self-deleted by its author mother earth Jun 2013 #7

We're making progress... CanSocDem Jun 2013 #8

That's it, he's under the bus, he dared to mention 'third party' even though not advocating for it, sabrina 1 Jun 2013 #17

And the shame is no one needs to read the text to know who the 2 are. 1-Old-Man Jun 2013 #9

These two centers of unaccountable power are co-dependent. bvar22 Jun 2013 #11

Excellent. cali Jun 2013 #12

K&R for more eyes. nt Mnemosyne Jun 2013 #13

Glad Mr Reich is speaking out on these topics. avaistheone1 Jun 2013 #14

knr Douglas Carpenter Jun 2013 #15

Interesting piece Cali_Democrat Jun 2013 #16

K & R !!! WillyT Jun 2013 #18

QUICK MAN! SMEAR ROBERT REICH! He's questioning the American Stasi! n/t backscatter712 Jun 2013 #19

The 2000 wheel bus will arrive shortly to give shade and comfort the the Enemies of the State. Tierra_y_Libertad Jun 2013 #20

annabanana

(52,791 posts)

1. 100% on the mark.