While it may be true that the dickwad speculators lost their money, it does not make up for the lives of the people who were removed because they stood in the way of exorbitant profits.
“People assumed they could boost revenues by kicking people out and raising rents.”What happened to the kind of social responsibility exhibited by Met Life?
MetLife built Parkmerced, Stuyvesant Town, Riverton and a handful of other large complexes in the 1940s amid a national housing crisis in a remarkable effort to provide homes for returning veterans. At Stuyvesant Town, for instance, the company received special property tax exemptions in return for agreeing to build the complex, maintaining relatively low rents and limiting its annual profit to 6 percent.
Where are the political leaders who will negotiate a limited profit margin? Leaders who will demand corporations do the right thing? Leaders who give a shit about replacing business owners who are control freaks? My emphasis.
1 comment:
So under totally unrestricted capitalism you could buy the best and widest variety of fishing equipment and they will throw all their waste (maybe a little oil too) in the water and kill all the fish. Hmmm - something isn't working right here.
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