User Tag List

Results 1 to 4 of 4

Thread: PR Problem

  1. #1
    Senior Member LostInNerSpace's Avatar
    Join Date
    Jan 2008
    MBTI
    INTP
    Posts
    1,027

    Default PR Problem

    It seems unfair that massive institutions like Goldman Sachs and Bank of America get billions to cover stupid mistakes and are now making billions. It is unfair. But it is necessary to look at it in context.

    This is almost a 14 trillion dollar economy. Could we really risk a 14 trillion dollar economy for the sake a few billion? As Ben Bernanke said, sometimes we have to hold our noses (paraphrasing).

    These financial institutions were all lined up like dominos. They were all basically holding each other's worthless paper, but it was structured such that the individual institutions could only see their own transactions. They could not see larger domino effect. Yes, they took too much risk and caused a lot of chaos, and maybe they should be punished.

    How do we look at it in context? They cheated and now they are winning. That makes me mad. That also makes me a hypocrite if I look the other way over something like the state lottery. Lotteries are taxes on the poor. It is only poor desperate people that spend a significant portion of their income on lottery tickets, along with booze and cigarettes. If you've seen them at the 7-11, you see they rarely buy just 1 ticket. $10 to someone on minimum wage is the difference between eating and not eating. The same applies to tax on cigarettes and alcohol. It's really only poor uneducated people who are addicted to these things and care that much about the difference in price. Lotteries are giant casinos. The chance of winning is so small it's not even worth considering. It is a rip off. Where is the public outrage over that? Nobody cares because it only affects people who have no voice.

    The financial institutions made stupid mistakes. I'm pissed! These idiots made stupid mistakes and now they are making billions with my tax dollars. What are we going to do? Breakout the pitch forks. We have to bend and break to rules to punish these people because they made me mad. And while we're at it we should firebomb the state lottery offices--oh, wait! That doesn't affect me. Let's just fire bomb Goldman Sachs.

    The state lottery is just one thing I pulled out of the air. There are almost certainly countless other situations that could be used to illustrate how we need to maintain a sense of perspective. People have a tendency to blow things out of proportion, and when everyone is angry at the same time it adds fuel to the fire. Social proof. If everyone thinks it, it must be true.

  2. #2
    Senior Member LostInNerSpace's Avatar
    Join Date
    Jan 2008
    MBTI
    INTP
    Posts
    1,027

    Default

    Another way to maintain perspective. Do you have a habit of tail gating people when driving on the highway? Do you maintain a safe distance from cars in front and behind you? If you don't you risk causing a massive pile-up, but only if they is a domino effect in place whereby a lot of cars are not maintaining that safe distance at the same time. Afterwards you might say I didn't know so many cars were driving that close together. How could I know? There was too much thick fog, or a snow storm, or heavy rain, or my blackberry was being attacked with spam.

    Maintain a safe distance people. If you don't your risk management standards are piss poor. You should be dragged out of your car, lined up and executed along with the other tail gators.

  3. #3
    Senior Member Survive & Stay Free's Avatar
    Join Date
    Jun 2009
    MBTI
    ESTJ
    Enneagram
    9 so/sx
    Posts
    21,653

    Default

    This is interesting but I dont know what you are trying to say, that bailouts are a good idea despite negative first impressions?

  4. #4
    Senior Member LostInNerSpace's Avatar
    Join Date
    Jan 2008
    MBTI
    INTP
    Posts
    1,027

    Default

    Not good. Necessary. Better than the alternative.

    One final way to maintain perspective. With the exception of AIG, most of the money was or will be paid back with interest.

Similar Threads

  1. Problem of Religious bigotry
    By SolitaryWalker in forum Philosophy and Spirituality
    Replies: 12
    Last Post: 01-26-2013, 03:57 PM
  2. Got sinus problems?
    By spirilis in forum The Bonfire
    Replies: 0
    Last Post: 07-06-2007, 10:37 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
Single Sign On provided by vBSSO