MAMEWorld Forums - Welcome to the War Room - Re: play Russian roulette with this food item?

>> The old Hostess and its products was/were ruined by SOB vulture capitalists
>> that raided and destroyed the old Hostess corporation to make money only for
>> themselves while ruining the lives of employees.

>Isn't that kind of thing the norm for the American corporate scene? Or am I grossly
mistaken?

Sadly it has been a normal thing these past 35 years in which hedge fund managers and vulture capitalists can get away with this stuff. Since Regan took office, a lot of the practices that used to be illegal in corporate raiding are now allowed since a lot of the regulations have been done away with. Hedge fund companies such as Baines Capitol were able to acquire many various companies by doing numerous actions that ruined companies they were taking over. See Mitt Romney and Baines Capitol for many of the past examples.

Another long ago, but useful (FDR implemented) Glass-Stegal act was to prevent banks from also getting into various financial services (stock investments etc) and was done away with in 1999. As Clinton left office in 2000, Phil Graham's legislation insertion of getting rid of Glass-Stegal had snuck into a final budget resolution. That was one of the causes that led to USA financial meltdown in 2008. A weaker version of Glass Stegal was put into legislation Dodd-Frank bill in 2009, but GOP has removed that as well or what is left of it.