NP - Jamie Dimon and the Gambling Away of All of Us

[David Morris]

On Wed, Jun 13, 2012 at 3:55 PM, Iris Sirius <irissiriustce at gmail.com> wrote:
>
> the more understanding you have of a risk, the less risky it becomes.

Only less risky if that understanding tells you how to avaoid the
dangers of that risk.

> Risk is defined by level of understanding.

Really?  That's a new one to me.

----------------------------
risk (rsk)
n.
1. The possibility of suffering harm or loss; danger.
---------------------------

> Even if you regulate more, you can never escape the occasional evil anomalous monad.

The anomalous is a red herring.  The nature of the derivitives game is
that someone has to lose.

David Morris

> Read
> more: http://www.esquire.com/blogs/politics/jamie-dimon-congress-testimony-9678137#ixzz1xhybChFL
>
> On Wed, Jun 13, 2012 at 3:20 PM, David Morris <fqmorris at gmail.com> wrote:
>>
>>
>> http://www.esquire.com/blogs/politics/jamie-dimon-congress-testimony-9678137
>>
>> It is considered declasse in our higher politics to mention this, but
>> there actually is a class war underway in America, and it doesn't need
>> politicians to stoke it. It happens in millions of little battles
>> every day, over mortgages, and college loans, and retirement, and the
>> simple, granite-like impassibility of the country's elites in the face
>> of what's happening to the great mass of people in this country. Now,
>> it's possible that our firmly purchased political system may be able
>> to continue to divert the energies of that war in the directions most
>> amenable to maintaining the status quo. (Blame the black people, the
>> regulators, the drum circles, public school teachers, the Community
>> Reinvestment Act, Van Jones!) But, sooner or later, someone's going to
>> be desperate enough — or bold enough — to grab that energy and ride it
>> to glory, and we all better goddamn hope that person has a good heart,
>> because those kind of things can go awfully badly wrong. What the Wall
>> Street casino is playing with is not house money. It belongs to all of
>> us. They are gambling not merely with currency, but with the stability
>> of the political system. Someone is going to pay.
>
>