Published: 12 Aug 11 16:30 CET | Print version
Online: http://www.thelocal.de/money/20110812-36927.html
Rupert Murdoch’s News Corp. is launching a foray into German-language financial news with an online version of its flagship business daily, The Wall Street Journal, the media reported Friday.
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Don't get me wrong, I am not an anti-capitalist, but wall street and the whole current financial industry is a racket. Alone the existence of Wall Street, or any centralized financial district for that matter, is proof that something not right in this day and age. In an information, digital age there is not good reason for so much financial "power" to be concentrated in any single area if it were not corrupt. The whole industry operates on creating as little transparency and real competition as possible and making sure that no one in the inside spills the beans. It is a hive of corruption and crime against people who actually work and are the ones who really drive any economy over the long run.
Wall Street does not like to hear that workers are actually the ones who fuel economies, because it is far more lucrative to run a scam on people than actually work for it. It is why all efforts to even look in the direction of workers rights, regulating the finance industry, unions, breaking up monopolies, forcing openness, etc.; are all resisted with "massive resistance" reminiscent of other American rackets like slavery. Rich white people who live off exploiting others do not like to be told they cannot exploit people.
At least if the WSJ were to enter the German market, the civil (even if sometimes a little too rigid rules governing news media) would possibly keep them under control. But mark my words, they would and probably are and have been working hard lobbying to break down all resistance to naked manipulation and support for exploitation, one chisel impact at a time.
The Wall Street Journal would have been what European monarchs would have been reading (the present version of which make up their core readership) because it extols the same values of exploitation, manipulation, racketeering.
Your rant needs some corrections/clarifications. No company is forced to get listed on the stock exchange. Those that do, must however make their financial statements public (so to increase transparency). If more transparency is needed, that's another story.
I also dislike Mr. Murdoch. However, let's not behave like the readers of "The Sun".
Completely agree. If we are going to be subjected to extreme left wing trash like The Economist and Der Spiegel, then make it fair and allow some room for extreme right wing trash like Murdoch. Or better yet, get rid of all of them.