4 ms·

Explain to me the "value" of Goldman Sachs telling their customers to buy derivatives, while shorting them at the same time. Pretty please.

• Karunamon 9y ago
  One, or even many examples of bad behavior does not invalidate the general argument of the wealthy creating value. Don't forget you're on a site owned by wealthy people whose day job is giving money to other people to bootstrap their companies. You don't get much more creating value than that.
  • sambull 9y ago
    Creating that value destroys the earth.
  • Pica_soO 9y ago
    Beggars cant be choosers. You forgot to demonize the opposition as lazy welfare riders. :D To add a little meat to this vampire of a political exchange. Nobody is interested in the usual defense mechanisms.. lets open the hard shell and look at the heart. And here it is: "I know you are right, but i have just so much invested into the current system, and can with my family at debt-gunpoint mount no enthusiasm as i could once when i was a tweenager. Why should i throw my hat in a ring, who as history shows often tramples hats and wearers on both sides? And how many couch revolutionary's are there, who wave the banner on the internet, but would throw a fit, if somebody would occupy their parking lot in real life. "
  • jazzyk 9y ago
    A few issues though: - more and more capital is being tied up in parasitic activity (encouraged by monetary and fiscal policies), instead of being invested in startups, infrastructure, etc. - all profits/capital gains are distributed to capital holders (out of proportion)
• vostok 9y ago
  When Goldman trades an OTC derivative with you, they're necessarily taking the other side. The value is that you transfer risk to Goldman at a price that you think is too low and that Goldman thinks is too high. Don't get me wrong, I'm probably more anti bank than the average HNer, but this particular criticism is nonsense.
• cat199 9y ago
  increasing market liquidity, sheesh