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  1. #17
    Yawn...'s Avatar
    Yawn... is offline I ain't got time for pedantic Ghandi type internet nerds
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    Re: Now US Bankers Are Planning To Sue ...

    Quote Originally Posted by kazza View Post
    What!?!??

    How can you possibly look at the past 3 years and say that there is no socialization of risk?
    Some risks are 'socialized' - I assume you are referring to the TARP program, and various other forms of Fed control of the banking system, money supply, etc.

    I think the rational for the 'socialization of risk' that Public Companies face is justified in that the consequences of not mitigating the risk is adverse to the Public. They are Public Companies....

    The beef I have with Public Companies in the US is management compensation.


  2. #18
    Join Date
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    Re: Now US Bankers Are Planning To Sue ...

    Quote Originally Posted by Yawn... View Post
    Some risks are 'socialized' - I assume you are referring to the TARP program, and various other forms of Fed control of the banking system, money supply, etc.

    I think the rational for the 'socialization of risk' that Public Companies face is justified in that the consequences of not mitigating the risk is adverse to the Public. They are Public Companies....

    The beef I have with Public Companies in the US is management compensation.

    I have no problem with management compensation. If the company bears the true risks of operation, then those companies which overpay their CEOs will go out of business.

    The problems arise when they are considered 'too big to fail'. Instead of going out of business, they can pay their CEOs whatever they want, and rely on an implicit guarantee that if things turn pear-shaped the government will be there to help them out with tax-payer money.

    A publicly-listed company is still privately owned. It is not in the best interest of the people, nor of the economy as a whole (in the long run) to save a failing business. The only people it helps are the owners, and the politicians who will continue to receive donations to their campaigns.

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