3 ms·
Yes. The investment distribution machine are driven by people playing musical chairs with each other. It's insane.
by tormeh 11y ago
Yes. The investment distribution machine are driven by people playing musical chairs with each other. It's insane.
- kasey_junk 11y agoFor the record, you can say the same thing about insurance but people don't.
- wpietri 11y agoThe major difference being that traditional insurance is heavily regulated, limiting the shenanigans. Finance, on the other hand, is more an anything-goes-until-you-catch-us model.
- kasey_junk 11y agoHaving worked in both, I'm not sure I agree. I will agree that the incentives to skirt regulation seem higher in finance than in insurance, but my personal opinion (and I could be very wrong) is that is a result of the regulation not due to its lack.
- PhantomGremlin 11y agoIn theory insurance is heavily regulated. In practice AIG managed to get itself into a situation where the Fed needed to give it $182.3 Billion dollars to keep it afloat. That's $182.3 Billion, not Million. https://en.wikipedia.org/wiki/Aig#Liquidity_crisis_and_government_bailout https://en.wikipedia.org/wiki/Aig#Liquidity_crisis_and_gover...