rushmc 23
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Lehman's ex-ceo was paid close to have a billion dollars over his tenure at the firm. His current net worth is well over a billion. I'm not justifying his actions, but it all boils down to greed. Most people IMO would compromise their morals when you're dealing with such huge amounts of money. Personally, I think the guy is a scumbag and should be in jail.
QuoteLehman's ex-ceo was paid close to have a billion dollars over his tenure at the firm. His current net worth is well over a billion. I'm not justifying his actions, but it all boils down to greed. Most people IMO would compromise their morals when you're dealing with such huge amounts of money. Personally, I think the guy is a scumbag and should be in jail.
I keep hearing that greed on Wall Street is the cause of this crisis, but it doesn't really make sense.
Did they suddenly become greedy, or have they always been greedy?
Stating that greed is the cause implies that the level of greed somehow increased and resulted in the crisis. Assuming the level of greed has stayed the same (a safe assumption), has the level of risk decreased?
Given that the government has bailed out many firms, in addition to things like the greenspan put, I think it's safe to say that the risk level has definitely decreased.
What do people do when you eliminate any risk associated with their greed-motivated decisions?
Why should the entities that enabled the people responsible for the crisis be trusted to avert another one?
kallend 2,106
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Why should the entities that enabled the people responsible for the crisis be trusted to avert another one?
Gramm, Leach and Bliley - I wouldn't trust them either.
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The only sure way to survive a canopy collision is not to have one.
The only sure way to survive a canopy collision is not to have one.
kallend 2,106
QuoteLehman's ex-ceo was paid close to have a billion dollars over his tenure at the firm. His current net worth is well over a billion. I'm not justifying his actions, but it all boils down to greed. Most people IMO would compromise their morals when you're dealing with such huge amounts of money. Personally, I think the guy is a scumbag and should be in jail.
I believe a criminal investigation is on the cards.
...
The only sure way to survive a canopy collision is not to have one.
The only sure way to survive a canopy collision is not to have one.
kallend 2,106
Quote
And WE are all paying the price.
There you go bitching about paying your taxes again
sheesh
I certainly object to paying off the debts incurred by a guy who walks away with $billions. He should be in jail.
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The only sure way to survive a canopy collision is not to have one.
The only sure way to survive a canopy collision is not to have one.
riddler 0
QuoteStating that greed is the cause implies that the level of greed somehow increased and resulted in the crisis. Assuming the level of greed has stayed the same (a safe assumption), has the level of risk decreased?
No, there was never a statement that the level of greed increased.
The issue is that the greedy people have found new ways to convince our "representatives" to allow them to be more greedy, to the detriment of us all. Laws that used to exist are being eroded by people that have forgotten history.
The Glass–Steagall act was put there for a reason! Why did the Republicans repeal it? Why, because their rich, greedy friends paid them to, of course! And the rest of us suffer for the few.
Trapped on the surface of a sphere. XKCD
rushmc 23
QuoteQuoteStating that greed is the cause implies that the level of greed somehow increased and resulted in the crisis. Assuming the level of greed has stayed the same (a safe assumption), has the level of risk decreased?
No, there was never a statement that the level of greed increased.
The issue is that the greedy people have found new ways to convince our "representatives" to allow them to be more greedy, to the detriment of us all. Laws that used to exist are being eroded by people that have forgotten history.
The Glass–Steagall act was put there for a reason! Why did the Republicans repeal it? Why, because their rich, greedy friends paid them to, of course! And the rest of us suffer for the few.
Why did Rangle/Dodd et al fight more over site of Freddie and Fannie?
All are interesting questions
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
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