[Gllug] VACANCY: Junior Systems Support

[Nix]

On 10 Sep 2009, Hari Sekhon said:
> Hayek capitalist economics which we have been following in recent 
> decades has now been shown to have a couple of holes in terms of 
> stability due to the unregulated exploitation by a few key players who 
> rolled the dice to try to achieve higher personal wealth, taking higher 
> risks of course (likely some of them knew this wouldn't pan out but 
> figured they'd get rich, take their money and run...).

'A couple of holes'. Alan Greenspan is 'in a state of shocked
disbelief', the general consensus is that major changes are needed to
bnak regulation and the operation of financial markets, and you call it
'a couple of holes'.

You don't work in the financial industry, do you? It has a couple of
holes the way a *sieve* does. It seems to me sometimes that it's almost
nothing *but* conflicts of interest.

> The current economic wisdom is that a capitalist system with some 
> regulation to prevent naughty players from sending the system into a 
> spin is what's needed.

Yeah, but first we have to fix the incentives that make virtually all
the players 'naughty', becuase if they don't they earn less and get
pistol-whipped by their shareholders. And that's not simple.
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