Friday, February 11, 2011

Nassim Nicholas Taleb Complains About Bailout Hazard

We are bailing out the banks ... and the managers kept their bonuses. Bob Rubin kept 100 million dollars while hiding Black Swan risk. Nassim Taleb complains on Fareed Zakaria's CNN can't run a system based on any commercial enterprise capitalizing their profits and socializing their losses

Politics is about power to choose who lives or dies literally and economically. If the US govt has no constitutional authority to invest in commercial ventures and all the money must be borrowed then why not borrow enough to give every taxpayer a 100% refund check for all 2008 taxes paid + enough to run the govt through 2009 so that no one would have to pay any taxes for 2009? This would be constitutional and the taxpayers would jump-start the economy from the ground up...immediately. Too easy??

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