Archived posting to the Leica Users Group, 2011/03/15
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]Being stupid, incompetent and/or greedy isn't illegal. The removal of the financial controls put in place after the crash last century was all these things too. I stick to my conjecture of stupidity. I -do- think it was calculated greed, and I do think they knew it would allow them to accumulate cash faster but I also think they were either insufficiently well educated, or insufficiently clever to think through what they were doing adequately. It seems nobody who was involved, in banks or government, had a sufficiently logical scientific mind. IMHO FD On 14 Mar, 2011, at 20:50, R. Clayton McKee wrote: > Quoth the FRANK DERNIE : > >> The bankers were not as well educated or clever as they thought. >> Lending the >> same money more than once, which is effectively what selling a loan >> to someone >> else then lending the money agin is, is the financial equivalent of >> a perpetual >> motion machine. Anybody who thought it could work was stupid, >> illogical and/or >> ill-educated. > > > How so? Not one of the people who pulled 7, 8, 10-figure > compensation packages while running that scam has been imprisoned or > fined; damn few have even been "inconvenienced" to the extent of > losing their jobs, businesses, tax shelters, or any of their marks' > trust. They are, in fact, therefore set for life at a level which > enables them to buy fleets of Jaguars, production runs of S2's, and > swimming pools of single malts out of pocket change.... Equipment we > can barely dream about are in their rounding errors. > > So there are two options: Either they blew it through mismanagement > and stupidity... . or they accomplished precisely what they meant to > accomplish - but lied about their goals and intentions from the > beginning. > > Here's a hint: They are NOT stupid or incompetent. > > -- > > > R. Clayton McKee http://www.rcmckee.com > Photojournalist rcmckee at rcmckee.com > P O Box 571900 voice/fax 713/783-3502 > Houston, TX 77257-1900 cell phone # on request > > > _______________________________________________ > Leica Users Group. > See http://leica-users.org/mailman/listinfo/lug for more information