Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Can't find the exact quote or who posted it, so apologies.  

The Big Boys aren't using their money, as NCE would claim, to invest.  They are "hiding" it.  A choice of word I find enlightening.

We're in a situation where TPTB are unwilling to give-up several thousand times the money the average person has for only several hundred times.  In my book, we're going down from sheer Greed and Power Trips.

YMM of course V.

Thus they are impervious to Reason.  

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Sun Sep 11th, 2011 at 02:04:19 PM EST
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A wealthy friend of mine, who started his financial empire in college playing penny poker, told me that the entire trick is to gamble with other people's money. Set up your company, pay yourself a salary, and then if the gamble fails your money is still intact.

So the bankers will not be personally "taking a haircut," it will be the owners of the bank shares.

by asdf on Mon Sep 12th, 2011 at 11:41:58 AM EST
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"OPM -- other people's money. The only way to go!" was the advise given me by a sadder but wiser veteran of Silicon Valley while I was working at Burr Brown in Tuscon in the early '70s.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Sep 12th, 2011 at 11:50:44 AM EST
[ Parent ]
Bank management might lose their jobs.

And if the next bank they seek employment at has two brain cells to rub together, their career. Of course, it's not an altogether bad bet that this conditional won't be true.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Sep 12th, 2011 at 12:06:45 PM EST
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"if the next bank they seek employment at has two brain cells to rub together"


by asdf on Mon Sep 12th, 2011 at 12:22:10 PM EST
[ Parent ]


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