Tuesday, December 16, 2008

How'd He Do It?

Megan, all over the latest Ponzi scheme, explains why rich people should be respected, & left alone to run the world of finance.

The market failed as badly as the government. The people he bilked weren't unsophisticated consumers of the sort that we assume need regulatory protection. They were extremely rich people, many of them with backgrounds in finance.
We'll just add that the entire world of money manipulation is a Ponzi scheme to begin w/, a house of cards dependent on the faith & trust of suckers whose greed virtually forces them to participate unquestioningly in these frauds.

3 comments:

D Johnston said...

Never mind that this is one of the crassest things Megan has ever said; think about how self-unaware she'd have to be to right that. She obviously does not think that she is one of those "unsophisticated consumers," despite spending the past month proving again and again that she is far worse than any of us on that count.

blivet said...

It's not just their greed that forces the general public to participate. If my 401(k) is anything to go by, you don't have any alternative but to put your retirement money into a mutual fund of one sort or another.

Why can't I put my retirement money in a fucking savings account? Why do I have to play the market?

NutellaonToast said...

because the market, like housing prices, always goes up!