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An elite few wealthy politicians decided how millions of people's money would act in the global economy. They made a bad call, obviously. But Soros and company
by zacinbusiness 12y ago
An elite few wealthy politicians decided how millions of people's money would act in the global economy. They made a bad call, obviously. But Soros and company weren't forced to "go for the jugular." They could have effectively "taught the British government a lesson" by making a few hundred million dollars and leaving the currency in tact, rather than completely decimating it. It's just greed. And the fact that so few people can see that is alarming.
- guard-of-terra 12y agoI see a lot of comments like this, presumably from UK citizens, and it looks like 99% income tax never taught you something. Alarmingly socialist world views for someone in the middle of Planet's biggest bank.
- AnimalMuppet 12y agoBut see, a few hundred million would not have taught them any lesson. They would have accepted that as the price of maintaining the pound in the range that the ERM said it needed to be in, and continued to do so. It was only when the losses became unacceptable that the politicians stopped acting foolishly.