Quote:
Originally Posted by Tyrone Slothrop
If you ran a business, you would not pay current expenses on credit just because you could, on the chance that some you might not have to pay the bill. It's no way to run a business, or a country.
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Actually, that's exactly what almost every business does. They take as much money out as they can and then borrow to handle expenses from payroll to inventory purchasing and (basically) hand control of their business over to the banks in the form of a credit agreement that limits their ability to do really stupid shit to the company.
But that is neither here nor there. I agree 100% with you. Sebby wants to live like an investment banker, which is rational. Greedy and selfish, but rational. Try as hard as you can to get credit for everything you do (whether you've done it already or are pretending that it will happen the way you set it up in the future) in the form of up front bonuses. Then, who gives a shit if everything blows up. Already got mine!*
TM
*(Yes, I'm about to digress.) And this is why everyone who says "We should have let the banks fail" have it wrong. The assumption behind that argument is that the banks will be punished, won't survive and will never come back with such a proven careless business model. But that's bullshit. Banks aren't run by people in it for the long run. They are run and populated by people who are trying their best to take out as much money they can as soon as possible. It doesn't harm them to have the bank fail. They're not being punished. They already got theirs. And if anyone thinks that the next big banks to emerge after we let all the current banks fail won't be set up the exact same way by the exact same people with the exact same pay structures, they're completely fucking delusional.
