Risk gets socialized, yet profits are privatized.

Athuga

Var að hreinsa póstinn og rakst á þetta.

Egilsstaðir. 28.03.2014  Jónas Gunnlaugsson

 

Sun 01/11/2009 16:37

Energy and Capital [e-mail]

A Message from the Publisher

To: JONAS GUNNLAUGSSON [e-mail]

-

"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)

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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.