Have you noticed how many Talking Heads warn of the dire consequences if governments get involved in managing banks?
I guess they like their socialism barefoot and half-pregnant. Did they try that argument on Warren Buffet when he "rescued" Goldman-Sachs? Investors like some influence over how their money is used.
Let's rephrase the argument: 'We were out of control and came begging to you for help. We'll do better. Trust us. (But stay in the kitchen)'
Paulson's Piñata
That reminds me of when (Treasury Secretary Henry) Paulson's Piñata was being pasted together by the U.S. Congress.
Paulson argued that some of his pals might not want to participate if executive's earnings were threatened. Gosh, Henry, that would hurt our feelings, but they've got to do what's best for them. So should the government.
People that are really very weird can get into sensitive positions and have a tremendous impact on history. -- Dan Quayle
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4 comments:
Part of the entire problem with the system.. it's become about "what we can get away with". A pseudo-society, bereft of morality, or concern for country, or humanity, where their only care where the larger human race is concerned.. is time spent conceiving and carrying out methods of shaking the citizenry loose of every penny.
Nothing new, really. That's why we need traffic cops in any economy.
I agree.
The "benevolent business" argument never washes with me.
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