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There's a difference between failing to perform and specifically making choices that hurt others. If the county executive knowingly chose faulty traffic lights
by kadoban 7y ago
There's a difference between failing to perform and specifically making choices that hurt others.
If the county executive knowingly chose faulty traffic lights, yeah they should go to prison.
The bankers aren't bumfuzzled or victims of circumstance, they're just not optimizing for public good or the stability of the system, because why should they? They have no incentive to. If shit goes sideways, they'll just get bailed out.
So how do we change the incentives? Not sure personal liability is the answer, but it's not the worst idea in at least some cases. (Though in this specific case, as much as I even understand what's going on, the answer is probably just standard regulation on the banks themselves)
- basementcat 7y ago> The bankers aren't bumfuzzled or victims of circumstance, they're just not optimizing for public good or the stability of the system Even with all the nonidealities of the USA financial system, it is still pretty darn stable. If you've visit other parts of the world, it is apparent that the USA financial system (and political system, notwithstanding media reports) is among the most stable in the world. This is why companies around the world seek financing in the USA and want to float their shares on NYSE and NASDAQ. Is there room for improvement? Absolutely.
- sroussey 7y agoIt’s stable until it’s not.
- deleted 7y ago[deleted]