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  1. #1

    The entire financial system is a scam.

    The financial system long ago detached itself from the real economy (and it's proper goal of promoting economic growth to raise everyone's standard of living) and became a speculative wonderland akin to the dodgiest casino in the world. It's just about gambling - usually in such a way that they players can never lose but everyone else can.

    Players in the financial system are massively rewarded for taking successful high risks, but do not suffer any penalties at all when their gambles fail on a breathtaking scale. In fact CEOs frequently walk away with vast payoffs when they've cost their company billions of dollars in losses.
    Nice work if you can get it.

    Hedge funds, derivatives, shorting, credit default swaps, collateralized debt obligations etc etc are all just staggeringly speculative tools that enrich a handful of people while destabilising the entire world economy.

    The question is how did these scammers become so powerful, and why are they so unregulated? I'm an idiot for standing by while they made a monkey out of me. What's your excuse?

    It's time for everyone to lobby Government to stop financial speculation that benefits only the greedy few, and to support a regulated, stable, sensible financial system that is there to support a healthy, risk-limited economy.

  2. #2

    Re: The entire financial system is a scam.

    Very interesting post. I have got lot of idea about entire financial system scam.

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