4 ms·

They're not winning, they're cheating! So instead of stopping them from cheating, the government should ask for a percentage of the take, and raise their taxes!

They're not winning, they're cheating! So instead of stopping them from cheating, the government should ask for a percentage of the take, and raise their taxes! Wait a minute.

fennecfoxen 15y ago
And on a related note: The obvious alternative is regulation. Consider this amusing/depressing look at why Wall Street regulation (as it stands) is a spectacular failure, consider this article in the Wall Street Journal: http://online.wsj.com/article/SB10001424052970204485304576641271880445798.html?mod=googlenews_wsj http://online.wsj.com/article/SB1000142405297020448530457664... Select quotes: "In 298 pages, rather than sketching out simple, clear rules for banks to follow, regulators essentially wonder out loud how they can possibly write this rule. Officially there are 383 questions posed in the document, but many of these questions have multiple parts... Bank lobbyists are certainly eager to provide some hand-holding." "Dodd and Frank punted this one to the executive branch, invested federal agencies with new authority, and expected the same regulators who failed to prevent the last crisis to somehow avert the next one." "Until the government is willing to create a durable financial system that allows failure, the best policy response is to make the rules so simple that even Washington can enforce them."
jbooth 15y ago
Charging them the same taxes as everyone else would be a start. Capital gains my ass. Then we can maybe look at the market failure that led their pay to skyrocket over the last 30 years while getting worse at their job of efficiently allocating capital. (Blowing up a bubble every 5-7 years does not look like a good job to me).
tzs 15y ago
Nearly every OWS gathering I've seen pictures of, and nearly every proposed OWS list of things they want changed, has included strengthening or reinstating regulations aimed at stopping them from cheating.

They're not winning, they're cheating! So instead of stopping them from cheating, the government should ask for a percentage of the take, and raise their taxes! Wait a minute.

fennecfoxen 15y ago

And on a related note: The obvious alternative is regulation. Consider this amusing/depressing look at why Wall Street regulation (as it stands) is a spectacular failure, consider this article in the Wall Street Journal: http://online.wsj.com/article/SB10001424052970204485304576641271880445798.html?mod=googlenews_wsj http://online.wsj.com/article/SB1000142405297020448530457664... Select quotes: "In 298 pages, rather than sketching out simple, clear rules for banks to follow, regulators essentially wonder out loud how they can possibly write this rule. Officially there are 383 questions posed in the document, but many of these questions have multiple parts... Bank lobbyists are certainly eager to provide some hand-holding." "Dodd and Frank punted this one to the executive branch, invested federal agencies with new authority, and expected the same regulators who failed to prevent the last crisis to somehow avert the next one." "Until the government is willing to create a durable financial system that allows failure, the best policy response is to make the rules so simple that even Washington can enforce them."

jbooth 15y ago

Charging them the same taxes as everyone else would be a start. Capital gains my ass. Then we can maybe look at the market failure that led their pay to skyrocket over the last 30 years while getting worse at their job of efficiently allocating capital. (Blowing up a bubble every 5-7 years does not look like a good job to me).

tzs 15y ago

Nearly every OWS gathering I've seen pictures of, and nearly every proposed OWS list of things they want changed, has included strengthening or reinstating regulations aimed at stopping them from cheating.