Anybody who gives their money to super-profitable Wall St firms is crazy. If those firms were such great investors they wouldn't share their good ideas and the profits with their dumb customers. They'd keep it all for themselves. If they're taking your money you can be pretty sure they're just taking your money and bleeding you with fees. What were people investing with Goldman Sachs thinking? They're famous for being ruthless killing machines! Fancy money managers aren't any smarter than anybody else, they're just good at separating rich people from their money. Just like casinos. Except casinos don't blow up the whole economy every ten years.
Why was it so important to bail these fuckers out again? Because somehow their antics intersected with the real economy. Because Lehman and Bear and Goldman somehow are vital to boring banking, boring stuff like short-term credit for boring businesses like print shops and grocery stores, and if we didn't bail the fuckers out nobody in America could get paid and we'd be using canned beans for money. Boring banking is boring because there's no money in it. That's the beauty of capitalism after all. If something is boring and old-fashioned competition squeezes all the profit out of it. But old-fashioned unprofitable things can be pretty damn important for the system work, like water and power utilities. So maybe it'd be a good idea to sever that link to Wall St then. Let Las Vegas handle the boring banking instead (bookies seem to understand vigorish a lot better than Wall St), and let Wall St be the place were moronic rich people blow their savings.
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