At 06:09 AM Wednesday 9/24/2008, Alberto Monteiro wrote: >Dan M wrote: > > > > "Oh, the irrationality." Why would people be reluctant to by one > > day notes from GE. Does any sane person think GE will go belly up > > _tomorrow?_ That's what the interest rate measures...the > > willingness of folks to buy GE notes. All of a sudden, buyers dried > > up. That's a measure of the panic. A rational market wouldn't > > change GE's interest rate that quickly because companies with idiots > > as managers (e.g. AIG) went belly up and had to sell most of their > > equity to the government at a discount or go bankrupt. > > >Are you sure _they_ (the managers) are the idiots? They probably >were richly paid, lived lavishly and became the alphas of their >peer group, while it lasted. Who cares about the future? >Stockholders want profit _now_. > >Maybe we are the idiots. > >Alberto Monteiro
Maybe even EEEEEE-VIL religion got it right when they named "greed" one of the seven deadly sins . . . . . . ronn! :) This planet has - or rather had - a problem, which was this: most of the people living on it were unhappy for pretty much of the time. Many solutions were suggested for this problem, but most of these were largely concerned with the movements of small green pieces of paper, which is odd because on the whole it wasn't the small green pieces of paper that were unhappy. -Douglas Adams _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
