Monday, March 23, 2009

Capitalised profit and socialised risk

"The Treasury Department will unveil the next step in its financial rescue efforts Monday, announcing that it intends to create a government body, called the Public Investment Corp., to finance the purchase of as much as $1 trillion in soured loans and toxic assets from ailing banks, according to sources."

In other words, the winners keep their bonuses, and we bail out the losers.

I want a job in one of those industries. At my job, we live (and go down) with our mistakes. The government doesn't come in and make it better for me.

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