Quote:
Originally Posted by whell
There's a difference between greed and operating in one's own self interest. Self interest does not include deceitful behavior, and includes by definition taking care of the folks that will be your customers. Greed is self - destructive.
The economic system is not based on greed, and this is a major flaw in the thought process of some on the left, including the current occupant of the White House. Individuals operate in a self destructive manner when they attempt to rig the system in their favor, manipulate others, and take on more risk than most others would find acceptable with their self destructive behavior.
Anyone can lose site of operating in their own self interest and succumb to greed. This is not behavior that is exclusive to the left or right. It may very well be operative in the unfolding story of the Facebook IPO, and as such should be instructive about the failures of individuals, not the indictment of an economic system.
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Wrong! During Wall Street's glory days the big finance firms were private partnerships and each partner's own money was on the line. They managed the risk.
Once these firms went public they were risking other people's money. Given the big bonuses being handed out, risk management went out the window in the face of - GREED.