This American Life has a very informative show on the financial crisis, with a particularly frightening section on credit default swaps that lays bare just how outright idiotic it was to let this market go without regulation (bipartisan blame on that one, btw – it passed the Senate 95-0).
Do you ever get the feeling that life is an unwilling competition between people who see money as a means and those who see it as an end? Would it be a worthwhile societal goal to figure out a way to sandbox the activities of the latter so that they have minimal impact on the lives of the former?
Yes, I think that would be worthwhile. But capitalism would probably implode if anyone ever succeeded. Are you secretly a communist?
Posted by Chinkerfly on 6 October 2008 @ 3pm