Wednesday, September 24, 2008

A safety net for the big players only

A pithy comment on the proposed bailout here -- short enough you should just go read it.
In other words, folks spent years making billions upon billions of dollars on risky transactions, more money on the stock of companies that was artificially high based on those transactions, more money bundling all those transactions into more transactions, and made a killing, and when it turns out the whole thing is a big pile of shit, you and I get the god damned bill.
But let's not socialize medicine or provide a safety net for old folks and those caught out by circumstance -- only really bad trading should get you a handout. Free markets, blah blah blah...

(via Medley)

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