Sunday, April 18, 2010

Passing the blame

I don't claim to understand derivatives. I think I understand Bill Clinton, though.
Is he saying he's sorry for a wrong decision? Or blaming others while pandering to the current mood. I see pander, not principle.
Usually the obvious choice with Bill Clinton.
The president's Wall Street reform push seems like another chance to scapegoat when government is the real problem. People are looking for financial security in the years ahead. If they trusted the government's promises on Social Security and Medicare would be there, they would be less likely to try new wild ways to make money. The sales pitch would be much, much harder.
Wall Street is just trying to make money for people one step ahead of the government's whims. If taxes are going to go up, minimize tax risk.
If the government may inflate the currency, buy gold to maintain your value.
People want to take care of themselves and their families. They may make bad decisions along the way. Unlike Bill Clinton, they need to admit it and not blame others when their decision goes awry.

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