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09-29-2008, 10:07 PM
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#1 |
Join Date: Jan 2006
Location: Seattle, WA
Posts: 10,665
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Wall Street mess & "baseball baptisms"
See I have some expertise in the Wall Street mess. Investment bankers get paid for generating transactions, pure and simple, and paper profits in a snapshot in time, just as in some missions (mine, an example), missionaries received praise and advancement for baptisms regardless of quality. Regardless of whether someone later on had to foreclose on such "members." It's the same phenomenon, the same quality of fraud, the same cynicism, the same moral hazard, that brought about both scandals.
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Interrupt all you like. We're involved in a complicated story here, and not everything is quite what it seems to be. —Paul Auster |
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09-29-2008, 10:10 PM
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#2 |
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Demiurge
Join Date: Aug 2005
Posts: 36,365
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I guess you felt that your prior observation deserved repetition in its own thread?
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09-29-2008, 10:14 PM
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#3 | |
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Join Date: Jan 2006
Location: Seattle, WA
Posts: 10,665
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Quote:
__________________
Interrupt all you like. We're involved in a complicated story here, and not everything is quite what it seems to be. —Paul Auster |
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09-29-2008, 10:32 PM
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Board Pinhead
Join Date: Jan 2006
Location: In the basement of my house, Murray, Utah.
Posts: 15,941
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Quote:
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"The beauty of baseball is not having to explain it." - Chuck Shriver "This is now the joke that stupid people laugh at." - Christopher Hitchens on IQ jokes about GWB. |
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