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William D. Cohan: House of Cards

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seanogue Avatar
Posted: 04.21.10, 04:49 AM
They're worried that they might leave for better jobs if they're too hard on them...poor things...surely that's what we want given they are the thieving bastards that swindled all the money in the first place. Yeah keep them in the job why don't you so they can steal even more money. What are you people... nuts.
Oculus Deus Avatar
Oculus Deus
Posted: 04.20.10, 08:48 PM
I think they define "greed" as doing something stupid and immoral to enrich oneself with complete disregard to the safety or well being of others. Nothing wrong with ambition but that has some measure of responsibility. These were not starving people on the street stealing an apple from a grocery cart or common thieves who could pay but chose to shoplift. These were people who were well educated people living a lower to upper middle class lifestyle who just wanted more money. They did not do this by making more working harder or improving themselves like must people. They did this taking stupid risks that they knew were wrong. It's a thin line to some but there is a line. Take for example the difference between bravery and foolhardiness/wrecklessness on the battlefield. Bravery: Scouting out the battlefield, knowing it will be a hard slog of a fight but executing the plan anyway. Foolhardiness/wrecklessness: Going in without a plan with certainty of success based entirely on chance and divine providence. I hope this helps.
phiscal Avatar
Posted: 12.05.09, 04:41 PM
The public is focused on Wall Street and rightly so. But a broad swath of actors in the real economy bear the bulk of the blame, in my mind, with special focus on retail borrowers (myself included). Everyone who borrowed more than 80% to buy a home, who borrowed money without a good grasp of their own employment vulnerability or without even modest budgeting skills, everyone who took a cash out refi, everyone who used a home mortgage to pay off credit cards, buy a car, go on vacation, etc... is culpable. This is not to let Wall St, realtors, mortgage bankers, builders, and everyone who fed on the boom off the hook, but they were only doing what they are supposed to do - give people what they want. Further, I think this, coupled with the looming national shortfall of retirement funds, will bring vast quantities of relative pain over the next two decades, but also a quantum leap in the financial sophistication of the average person. We'll suffer, but if we do things even half right, we'll emerge as smarter consumers and a better society.
John Murray Avatar
John Murray
Posted: 04.18.09, 02:41 AM
I agree re the use of the word but not that some expression of condemnation is unwarranted (not that you were intending that, I assume?). So what to say instead? Swopping condemnatory phrases and trying to make them less general like "some people 'did the wrong thing' somewhere/sometime" still mires in subjectivity. Best maybe that individuals judge themselves against the old reflexive "do unto others ..." Biblical criteria or something like that? I reckon so. From me, then, .......... If anyone out there is self-judging and feeling bad ..... feel free to assume a whole bag of condemnation from "us"! If you're absolving yourself on grounds like your level of knowledge / responsibility / awareness / circumstances .... careful of the integrity of your self-talk : we're all phenomenal rationalizers! If you're avoiding evaluating : get busy! If you're in good conscience 'clear' or the question honestly just doesn't arise - great, "we" are with you!
iconicscooter Avatar
Posted: 04.16.09, 06:13 PM
One person, any person, step up and DEFINE EXACTLY what GREED is? What a stupid word to keep utilizing when discussing the issue of irresponsible choices. How do we know they are irresponsible? Because the choices were at a cost to others without their consent. Now if you claim the choices were with consent, then you can't claim "victim" when you're complicit in the behavior. Every time someone attempts to say, "those greedy..." tell them how stupid and ignorant they sound; how they can only define greed for self and that one man's greed is another man's salary for living - what happens when someone thinks YOU'RE greedy and you only see yourself as living a life of choice, hard work and challenge to get where you are. Gimme a Break!