Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: LLCF who wrote (8004)	8/30/2001 1:29:43 PM
From: Wyätt Gwyön	Read Replies (2) of 74559

it was in some measure related to the process: they could have done a "beauty pageant" auction like some places in asia. but instead, the govies got greedy and hired ivy league game-theory consultants to help them milk the carriers, who were in turn milking the easy capital markets (actually, they were banking on being able to milk the markets in the future--but the markets took the ball and went home).... so if you trace it all back, it looks to me like some structural measures could have avoided what looks to me like a real "tragedy of the commons". (just as our own government employs "checks and balances" as a preemptive structural measure to assuage the baser tendencies of those in power.) the players cannot be separated from the game and its rules.

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