09-23-2008, 03:10 AM | #21 | |
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Location: Seattle, WA
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I don't blame them. I'm not proud of these financial institutions that fell prey to the moral hazard of short term gains and riches for their principals just for making loans regardless of due dilligence.
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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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09-23-2008, 03:38 AM | #22 | |
Senior Member
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And you need to bust out your Friedman again, because the moral hazard of this crisis has nothing to do with short vs. long term profits - it's all about risk being divorced from the lender.
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09-23-2008, 04:31 AM | #23 | |
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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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09-23-2008, 05:35 AM | #24 | |
Board Pinhead
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So what if it is true? Does that make them less righteous? Or are you jealous that you don't have a 2nd home? Perhaps you're impatient and want a 2nd home now and aren't willing to work for it, so you rail against those who do? If GAs have 2nd homes, it tells me exactly the same thing that my in-laws having a 2nd home tells me - that they worked their butts off during their careers in order to not have to worry about an income during their retirement years. Is that really so bad?
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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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09-23-2008, 12:34 PM | #25 | |
Demiurge
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09-23-2008, 01:38 PM | #26 | |
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My current home is nice, but nothing special. I paid less than two times my annual salary for it. But if you put it up on that website, there are probably only about 5 homes that look nicer. Materialism might very well be a problem in the Church, but if the best that the enemies of the Church can do is link to pics of normal looking condos with "gorgeious views of the Salt Lake Valley", I see no evidence that the General Authorities have fallen prey to it. |
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09-23-2008, 01:48 PM | #27 | |
Demiurge
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09-23-2008, 01:52 PM | #28 | |
AKA SeattleNewt
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09-23-2008, 01:55 PM | #29 | |
Charon
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"... the arc of the universe is long but it bends toward justice." Martin Luther King, Jr. |
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09-23-2008, 02:21 PM | #30 | |
Demiurge
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