Talk about humor, I loved that line by Alan Greenspan when confronted with the fact that the men in financial institutions would put greed in front of self preservation if left unregulated, Mr. Greenspan said:

"there is a flaw in the model ...that defines how the world works"

no shit? The amazing thing to me is that after the history of the world and all the great financial meltdowns of the past that anyone would fail to include greed and self interest along with the mantra of grow the percieved profits at all costs has not been factored into the equation. I am dumbfounded that anyone who held the position of Federal Reserve Chairman would have such a lack of knowledge of how the market works? I mean he is 82 years old, surely he must have had a real job at some point in his life?

These are the words they need to inscribe above the great Stock Exchanges and Banking Houses of the World!

Human Greed and Self Interest are the Foundation of a Market Economy

I mean if you are going to live in a Capitalist Society you got to honestly confront the facts. Ethical codes and human compassion are like the 99th and 100th consideration when it comes to financial decisions. Might not like it but that is the facts jack! It has been proven over and over and over again! The market will eventually correct and the game is to be on top to avoid being squished in times like these! If you try to redefine the game you will be labeled and you might get shot!

as much as that sucks, i appreciate when i read (or hear) something that makes sense (even if it is to say it sounds like the truth about something that makes no sense)

"agnes, are you being enigmatic again?"

no seriously!

PSBeaty wrote:

"The amazing thing to me is that after the history of the world and all the great financial meltdowns of the past that anyone would fail to include greed and self interest along with the mantra of grow the percieved profits at all costs has not been factored into the equation."

I totally agree. It's essential to include this particular aspect of human nature into the money game.....it should be incorporated into monopoly games so that children can learn this important lesson early on.
That's one of the reasons I believe baseball is an honest metaphor for life: errors are actually built into the game!!!

Oh yeah..... Agnes, did anyone ever tell you how beautifully sublime your prose sound when you are being enigmatic???

nortonkevin...that is a good one!

but...i guess i am stupid to hope or think that hoo-mons will ever get it together?

[quote="PSBeaty"]These are the words they need to inscribe above the great Stock Exchanges and Banking Houses of the World!

Human Greed and Self Interest are the Foundation of a Market Economy

The visual that came to mind was a Wall Street high rise, a fortress of of trade and commerce, with a grandiose facade complete with gigantic pillars and sweeping steps leading into the marble foyer. And just before you enter the bastion, you pass under those great words, etched in stone overhead for all to see....


There is strong resemblance to that reverie and to the reality that smacked me in the face the day I went into the bank to check on our dramatically dwindled LOC, only to be handed a stack of cancelled checks made out to cash by my dearly betrothed. Unbeknownst to me, he transferred money out of our account to himself, and to other accounts, including internet transfers, and in short order drained the equity of the house. I sat there stunned. I said to the banker, " how could you extend this much credit to someone who applied for this loan based on the housing market 10 years ago? " She said we never check loans unless there is a payment problem. "What about the fact that both our names are on the LOC, can I close this down?" And she said, "Yes, but he can come in here tomarrow and open it back up."
"What about the missing money he took using an internet transaction , can I have the account information the money went into ? " And she said, "No, we cannot give you that information". "But it is my money, too. My name is on the mortgage, I will be responsible for half of this."

And unbelievable as it seems, she said it was the banks policy not to divulge internet transactions to any one expect the person who made the transaction, even if the money was taken from a joint account.

Can you imagine how I felt?


She just shook her head and kept saying , " I am so sorry Mrs. G. "


Now imagine if the banks owned up to the facts, as psb points out,, their reaction may have been one of pride!
"Yes, Mrs G!!!! We gave you as much money as we could, and relied on the greed of your husband to take as much as he wanted, so now you are (both) on the hook to pay it back, and with interest, ain't it grand? Watch those sweeping steps on the way out"

Remenber when a candy bar was a nickle? A phone call a dime?
Today A dollar is worth a dollar, but tomorrow it is worth less....surely there is a tool that walks one through the calculations: if you borrow $10,000 on January 1,2008, that money is worth (10,000 - x) on January 2009 plus the interest for the life of the loan is y, therefore you paid (10,000 - x) + y = z for your 10 grand. Any economics teachers out there?
I need remedial math!

Has anyone emptied the trash recently?

http://www.youtube.com/watch?v=0ZesRAo5PBg

My name is Kevin and I'm a Pete-aholic. (Everyone): Hi Kevin! Like any junkie, one is too many and a thousand not enough:

http://www.youtube.com/watch?v=Wf5Jn8O3s0c

This has been posted here before by someone else, but not in a long time and I couldn't find it. There's a petition to nominate Pete for the Nobel Prize for Peace. For all Pete-aholics who haven't signed it yet, here's the link:

http://www.nobelprize4pete.org/resources.html

This here song has been known to just pop out of me at various times over the last 35 years or so. Don't know why as I can't sing a lick but somehow I feel comfortable belting this one here out at anytime! Don't really care who hears me!

http://www.youtube.com/watch?v=AZU-9TBP2NY

As is usually the case, the simple songs are the most profound.

i always liked this version of this song

http://www.youtube.com/watch?v=uQYDvQ1HH-E

now you talk about soul!

of course, the beatles version might be a little easier to sing along to