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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Steve Lokness who wrote (111698)5/17/2010 4:37:33 PM
From: mishedlo5 Recommendations  Read Replies (4) of 116555
 
Steve there are many problems, the list is long.
It all starts with loose money at the Fed, and bad public policies in general, led by unions mobs buying votes from corrupt politicians.

Then there are the moral hazards of bailing out banks, creating too big to fail, etc etc etc.

I object to whiners standing up for public unions on the perverted belief that Banks or whoever are worse.

I do not care who is worse, I am for fixing all these problems. And unions are one freaking enormous problem, far bigger than hedge funds.

The reason should be obvious.
No one has to invest in hedge funds or the stock market or buy houses. What Goldman Sachs makes is irrelevant. I do not care what they make, I do care is the WAY they do it.

That is the problem, not how much they make. I have objected to front running trades and betting against clients. I think it is wrong.

But only idiots were on the wrong side of those CDS bets. They can blame themselves more than they can blame Goldman.

Taking it back a step, the Fed enabled all of it.

Pissing how much someone makes is attacking the result, not the problem. It is ridiculous. It is equally ridiculous to play the game "What Suzie Q did was worse"

Public unions have cost taxpayers countless $trillions and that is a simple statement of fact, not conjecture, regardless if anyone believes banks or hedge funds were worse.

Mish
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