4 ms·

Sounds a bit like Nuremberg defense, don't you think? "The System ordered us to rob people."

roywiggins 8y ago
It's more of a whataboutism than anything. While we're at it Deutsche Bank literally financed Auschwitz: https://www.nytimes.com/1999/02/05/news/deutsche-bank-linked-to-auschwitz-funding.html https://www.nytimes.com/1999/02/05/news/deutsche-bank-linked... That doesn't make GS any better! But they do come in for maybe very slightly more than their fair share of criticism.
aphextron 8y ago
You’re missing the point. To think that any business would ever act against it’s own self interest within the bounds of this system is naive at best. We’d all love if that weren’t the case, but discussing fantasy worlds does nobody any good. Rather than a reactionary emotional response to “bad men are bad”, what alternative do you propose to firms like Goldman? I’m not defending them, it’s simply a law of nature that this behavior exists because we allow it to exist. Capitalism is inherently evil, manipulative, and exploitative, yet no one has figured out anything better so far. Relevant: https://www.youtube.com/watch?v=8jIw22XXSso https://www.youtube.com/watch?v=8jIw22XXSso
- munk-a 8y ago
  So... you're saying this is why we need to regulate bad actors like GS into the ground? Because it's inconceivable they'd ever police themselves because there are no market incentives that actually reward good actors?
  - aphextron 8y ago
    Precisely. But we don’t regulate them into the ground because we like money. And Goldman is really really good at making money. Until the good of humanity is held in higher esteem than private profit, this will always be the case. I’m not holding my breath on that one.
    - munk-a 8y ago
      I agree, sadly I don't see the US going in this direction until after the voting system and election funding is fixed to the point where no longer is money > public will.

It's more of a whataboutism than anything. While we're at it Deutsche Bank literally financed Auschwitz: https://www.nytimes.com/1999/02/05/news/deutsche-bank-linked-to-auschwitz-funding.html https://www.nytimes.com/1999/02/05/news/deutsche-bank-linked... That doesn't make GS any better! But they do come in for maybe very slightly more than their fair share of criticism.

aphextron 8y ago

You’re missing the point. To think that any business would ever act against it’s own self interest within the bounds of this system is naive at best. We’d all love if that weren’t the case, but discussing fantasy worlds does nobody any good. Rather than a reactionary emotional response to “bad men are bad”, what alternative do you propose to firms like Goldman? I’m not defending them, it’s simply a law of nature that this behavior exists because we allow it to exist. Capitalism is inherently evil, manipulative, and exploitative, yet no one has figured out anything better so far. Relevant: https://www.youtube.com/watch?v=8jIw22XXSso https://www.youtube.com/watch?v=8jIw22XXSso

munk-a 8y ago
So... you're saying this is why we need to regulate bad actors like GS into the ground? Because it's inconceivable they'd ever police themselves because there are no market incentives that actually reward good actors?
- aphextron 8y ago
  Precisely. But we don’t regulate them into the ground because we like money. And Goldman is really really good at making money. Until the good of humanity is held in higher esteem than private profit, this will always be the case. I’m not holding my breath on that one.
  - munk-a 8y ago
    I agree, sadly I don't see the US going in this direction until after the voting system and election funding is fixed to the point where no longer is money > public will.