Risk gets socialized, yet profits are privatized.

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Var að hreinsa póstinn og rakst á þetta.

Egilsstaðir. 28.03.2014  Jónas Gunnlaugsson

 

Sun 01/11/2009 16:37

Energy and Capital eac-eletter@angelnexus.com

A Message from the Publisher

To: JONAS GUNNLAUGSSON jonasg@ismennt.is

-

"When you see that trading is done, not by consent,

but by compulsion

when you see that in order to produce,

you need to obtain permission from men who produce nothing

when you see money flowing to those who deal,

not in goods, but in favors

when you see that men get richer by graft and pull than by work,

and your laws don't protect you against them,

but protect them against you

when you see corruption being rewarded and honesty becoming a self-sacrifice

you may know that your society is doomed."

-

—Ayn Rand, Atlas Shrugged (1957)

 

(við færum allt til betri vegar strax jg)

----

 

The Socialization Of Risk

 

Banks: Too-big-to-fail banks take too-big-to-believe risks, receive too-big-to-fathom bailouts,

and hand down too-big-to-believe bonuses.

 

Wall Street: Like banks, Wall Street takes on huge risk, and takes a percentage of the gains on the way up,

and the way down.

 

And it gets a bailout. Risk gets socialized, yet profits are privatized.

 


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