European Tribune - Comments - Lehman: more socialising the losses of the rich

Lehman: more socialising the losses of the rich | 200 comments (200 topical, 0 editorial, 0 hidden)

That didn't seem to help the banks or their shareholders. But I guess we might have a classical agent-principal problem here: the people in charge don't care about the shareholders as long as they can make a quick, massive, buck, and as long as the music plays, they'll make that buck.

Shareholders or the stability of the financial system be damned!

Is there any way charges could be filed against them? As the crime "financial treason" doesn't exist, maybe they could be put in jail for ignoring their duty against the shareholders?

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid (arvid.hallen at gmail.com) on Sun Sep 14th, 2008 at 07:34:54 PM EST
[ Parent ]

How quaint (none / 1)

You still believe in shareholder sovereignty. You should read The New Industrial State.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Sun Sep 14th, 2008 at 07:36:12 PM EST
[ Parent ]

Re: How quaint (none / 0)

I really should, as soon as I can wrap my mind around Calculus. And I should really be asleep now, damn stupid math in 7 hours...

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid (arvid.hallen at gmail.com) on Sun Sep 14th, 2008 at 07:41:19 PM EST
[ Parent ]

Lehman: more socialising the losses of the rich | 200 comments (200 topical, 0 editorial, 0 hidden)

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