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When we abstract away the situation, then it all seems simple - we assume both parties (the BoE and Soros) are willing, aware and self-motivated actors in contr

When we abstract away the situation, then it all seems simple - we assume both parties (the BoE and Soros) are willing, aware and self-motivated actors in control of themselves. However, there WERE other parameters. George Soros clearly believed the government to be incompetent/incapacitated (up against a wall), and took full advantage. It's also a zero-sum game where the loser isn't a single, self-motivated individual - it's a body of taxpayers who aren't explicitly consulted or perhaps even aware of the transaction, which calls into question the "willing, self-aware" parameter. Idealised financial transactions end with "win/lose", whereas ruining a whole economy like that results in years of decreased quality of life for other individuals, which has a moral implication. Soros was undoubtedly aware that his transaction would disadvantage a huge number of people, but did it anyway. He could have acted in such a way that netted him lots of money (a million, 10 million, 100 million) whilst still minimising taxpayer losses, but he didn't at all. So in pure, simplified transactional terms, yeah fair game. In "big picture" we-are-all-human-beings terms, there's a huge moral hole here.

CocaKoala 12y ago
Sure; I won't argue that it was a jerky thing to do. However, being jerky doesn't make it criminal, and when you say "this is analogous to mugging a passed out rich man in the gutter", you are saying that it's criminal. Was the British government up against a wall? Yes, but only because they put themselves there. They said "We will buy British Pounds, all you want to sell to us". George Soros said "Well, damn; I bet I can get a lot of pounds. Let's do this." and it turned out that George Soros's ability to borrow pounds was greater than the government's ability to buy them. How is an entity, full of ostensibly smart people, who continually say "Bring it on, I'm not done yet" the same or even similar to a drunken, passed out man? How is somebody who says "You will buy British Pounds? I have some pounds right here; would you like to buy them? Oh, you would? Well hold on, I'll be right back; I bet I can get some more!" the same or similar to somebody who sees a passed out man and slips off the dude's watch?
- westiseast 12y ago
  Robbing a drunk man in the street: Illegal + Immoral What Soros did: Legal + Immoral.

CocaKoala 12y ago

Sure; I won't argue that it was a jerky thing to do. However, being jerky doesn't make it criminal, and when you say "this is analogous to mugging a passed out rich man in the gutter", you are saying that it's criminal. Was the British government up against a wall? Yes, but only because they put themselves there. They said "We will buy British Pounds, all you want to sell to us". George Soros said "Well, damn; I bet I can get a lot of pounds. Let's do this." and it turned out that George Soros's ability to borrow pounds was greater than the government's ability to buy them. How is an entity, full of ostensibly smart people, who continually say "Bring it on, I'm not done yet" the same or even similar to a drunken, passed out man? How is somebody who says "You will buy British Pounds? I have some pounds right here; would you like to buy them? Oh, you would? Well hold on, I'll be right back; I bet I can get some more!" the same or similar to somebody who sees a passed out man and slips off the dude's watch?

westiseast 12y ago
Robbing a drunk man in the street: Illegal + Immoral What Soros did: Legal + Immoral.