Thursday, January 29, 2009

Experts Agree With Populus Vox

“We should not trust these bankers; look at their track record,” Taleb said. “They know we’re going to bail them out. They hold us as hostages” and “the only way to stop the process is for the government to own those banks, tell them what to do.”

My emphasis added in the quote.

Taleb also observes how our economy is capitalistic when private industry profitable, but socialistic when private industry is unprofitable.

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