Jay_Gatsby
Thinks s/he gets paid by the post
- Joined
- Oct 7, 2004
- Messages
- 1,719
Many are quick to blame this woman's personal habits. If you read the story, she had appendicitis.
No one wants to take their frustration out on these people:
Why No Outrage? - WSJ.com
Banksters can owe 33x their assets and that's normal.
But let a regular person owe 2x their assets and out come the flails.
And no one seems interested that the profit of one must needs come at the expense of the other.
Why is one group deemed "smart" and the other "stupid"?
I just don't get it!
All these smart companies run by smart people and Nobel-Prize winners are in the hole for much more than the lady here.. who is the classic example of the "capra espiatoria".. the hapless goat that assumes and expiates the sins of its masters, in this case the true believers of the current financial religion.
I read a good comment about conservatism somewhere (in relation to such "traitors" to conservatism as Bush and McCain) to wit: "Conservatism cannot fail, it can only BE failed". And so we see here that the US financial system grounded on debt cannot fail, but can only BE failed, by its very victims! This is the "common wisdom".
True, but such entities are the system. While it's a nice thought to hold them to the same standards as the woman in the article, the simple truth is that they're not. Whether they ever will be in the future is up to the politicians in Washington, D.C., the SEC, the Federal Reserve, etc.... They are allegedly accountable to the voters.