Monday, September 29, 2008

The big boys always win!


In normal life, we don't get goodies when we make mistake. But life is never normal. This is what we are witnessing when the US government provided a super-giant rescue plan to failing banks. Those banks rake in abnormal profits in good times, and hand them out to their workers and CEOs. But during the not-so good times, they still hand out handsome gains to their workers and CEOs!

Hang on, this story gets worse (or better if you are one of those workers and CEOs). Even when those banks are heading for the abyss, because they make the wrong bet with their invesment and deposits, the workers and CEOs can still walk away with pocketful of dosh! And to add more insult, the government will use people's money to save their polished rear-ends so they won't go belly up. Just like a trusted uncle. In the case of USA, it's Uncle Sam saving those screw-ups again and again and again.

So what do we learn from this sorry episode?

You have a license to be reckless when you are one of the big financial boys.

Most dispicable.

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