|Re: JP Morgan Chase Execs Vaporize $2B (942233)|
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Re: JP Morgan Chase Execs Vaporize $2B
Posted by 3-9 on Wed May 16 20:16:32 2012, in response to Re: JP Morgan Chase Execs Vaporize $2B, posted by Charles G on Wed May 16 15:05:04 2012.I think it can be regulated, or Wall St wouldn't be lobbying so much to punch the new financial regulations full of holes.
You say that the answer is to self-regulate, but it comes back to my original argument that in the financial industry, the rewards for winning are so great that people are willing to take that risk (not unlike when the lottery jackpot is huge, people buy more tickets, even though the chances have not improved). To top it off, coming back to your analogy, they know that if they build a big enough nuclear bomb, chances are, the government will bail them out, because the bomb's explosion will be much more destructive than the bailout. It would help if it was their money on the line, like you said, but since the big banks are publicly traded, how much of it is really theirs, bailout or not?
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