Comments as folks are facing a national guile are what comments should always be.
- The reality is no one could have imagined this much greed and this amount of thievery from people who had been taught in our highest educational institutions with the best of teachers and more. But, we failed to teach them the highest of codes, morals and ethical value, and now we are reaping what we’ve sown!
- It’s very simple. The way to do away with moral hazard is to do away with moral hazard.
- Our financial system is over-reliant on bright young men with good educations and no practical experience who find it easier to look up someone’s credit score or consult the ratings agency oracle (staffed by their friends from the same schools) and make those investments in non-productive sectors (or extend credit to those sectors, if you prefer that terminology) in a process which can be automated rather than analyze the prospects of a business proposal. Therefore productive investment is not made and innovation not funded. These people have the wrong backgrounds, the wrong training, and the wrong analytical ability and it needs to go away in substantial measure.
- At the beginning of this year, we were still hearing journalists, and I use the term very loosely, say that nobody saw this coming. We now know that _many_ saw this coming and they were utterly utterly ignored.
- Imagine if we applied the principles of “enlightened self-interest” and “free market capitalism” to nuclear power generation. Let everyone be free to build mini nuclear power plants in their backyards. No regulation is necessary because the market would simply regulate itself.
- Am I going to be the only paranoid conspiracy theorist to point out how likely it is that the same speculators who bet mortgage derivatives would default could easily have driven up gasoline prices to ensure millions of us couldn’t possibly make mortgage payments?
- What saddens me the most is how we fumble around hoping for the best in people and giving them free reign to destroy, when we should be accounting for rampant greed in all of our decisions and regulatory structures. I believe in capitalism, but also in a structure that supports “clean capitalism”. Why can’t we create this? Why does it take disaster to get things moving in the right direction. And why don’t we look at this situation like we look at genocide – a crime against humanity?