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Technology Stocks : Softbank Group Corp

SFTBY 74.64

+3.1%

Nov 11 3:58 PM EST

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To: TobagoJack who wrote (5553)	10/29/2000 5:08:08 PM
From: manohar kanuri	of 6020

Thanks for the pointer. I see Patrick Slevin is around there.... a virtual encyclopaedia.. that man is... ran into him on a futures thread which I used to follow ... one of the more useful things I learnt on that thread, if not all of SI for that matter, was to stick to a method that imposes a discipline...no matter what it is... even if it be reading tea leaves or chicken entrails....madness, yet there's method in it kinda thing.... I'll bookmark and follow it for a few days... though I'm a dyed-in-the-wool, card-carrying optimist... nothing so bad that ignoring it won't fix! and there's always gin and tonic if push comes to hic....just kidding... I do think, however, that there are too many people left over from a different time when real crashes could and did happen. when an electorate that determines political fortunes (and the apparatus of the state) also has a stake in the market.... it's pointless talking about moral hazard because it isn't moral hazard in a strict sense... a state is a neutral entity only in some libertarian utopia that's never existed....and a delegated authority in such a utopia can mimic and be subject to the moral hazards of conventional agency problems.... but when the insurance policy (or the put option if you will) is written into the articles of incorporation itself... what then? i mean we do need to address this.... the state exists to enable individuals and in a democracy that involves voting majorities who are (now) also shareholders ... the interests of the state and the interests of the market become coterminous... so the question becomes -- under what circumstances can a state fail or be allowed to fail? .... or put another way, can we say that we have arrived at/evolved to a point where a failure of the market (a catastrpohic collapse, not a mere hiccup) amounts to a failure of the state? i think we have.... but then again maybe this is just the confused rambling that comes of disorientation... the times...they are a-changing ... and it's dark outside at 5.....very distressing.... best, mk

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