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Re: Lessig also is cactus

By: Cactus Flower in ALEA | Recommend this post (0)
Sat, 08 Oct 11 2:13 AM | 42 view(s)
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Msg. 05971 of 54959
(This msg. is a reply to 05970 by orda)

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Hi orda,

Well, that is ktc's line.

I don't want them castrated, devastated, defenestrated. I just want them gone and to put people in charge who understand the issues.

From a Wall Street angle, that means define a downside to risky transactions. If they can lose as well as win, they'll take sensible risks. But if you get ten bets in which you can make a million if you win one of them, and you lose nothing if you lose the others, who isn't going to take the risk. Yet in that scenario, 9 out of the 10 people who invested their money lost it. The broker walks away happy. The losers don't even realise they were had. They just think they were unlucky.

In sum, this is the incentive scheme called Wall Street.


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The above is a reply to the following message:
Re: Lessig also is cactus
By: orda
in ALEA
Sat, 08 Oct 11 2:06 AM
Msg. 05970 of 54959

At what point do we start castigating the "enablers?" They should be first in line for the guillotines.


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