As a society, we have consciously allowed it because we realized that financial innovation accelerates economic activity and wealth creation.
There is really no difference between gambling that a mortgage-backed asset will go bad and gambling that the Chargers will lose the next football game.
The people who run the financial markets are allowed to spread their risks to society at large because the benefits of money as the grease in the wheels of commerce are thought to outweigh the downsides.
That’s capitalism. It’s not a moral system per se, but it’s the best at generating stuff that we want to consume.
Do you want morality; or you do you want to buy all your stuff for cheap, and more and more of it for the income you’re making?
My grandfather and the majority of his generation would treat a man’s word as his bond. The older I get the more I understand and appreciate the Great generation.
My grandfather and the majority of his generation would treat a man’s word as his bond. The older I get the more I understand and appreciate the Great generation.
My grandfather and the majority of his generation would treat a man’s word as his bond. The older I get the more I understand and appreciate the Great generation.
My grandfather and the majority of his generation would treat a man’s word as his bond. The older I get the more I understand and appreciate the Great generation.
My grandfather and the majority of his generation would treat a man’s word as his bond. The older I get the more I understand and appreciate the Great generation.
[quote=scaredycat]people were slimeballs back then too. they were worse then. if the immorality fo a society could be measured, it was much larger back then.[/quote]
They were better at the hard virtues. We are better at the soft ones.
[quote=scaredycat]people were slimeballs back then too. they were worse then. if the immorality fo a society could be measured, it was much larger back then.[/quote]
They were better at the hard virtues. We are better at the soft ones.
[quote=scaredycat]people were slimeballs back then too. they were worse then. if the immorality fo a society could be measured, it was much larger back then.[/quote]
They were better at the hard virtues. We are better at the soft ones.
[quote=scaredycat]people were slimeballs back then too. they were worse then. if the immorality fo a society could be measured, it was much larger back then.[/quote]
They were better at the hard virtues. We are better at the soft ones.
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