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re: Goldman tapes show culture of corruption, crony capitalism
Posted on 10/1/14 at 8:53 am to inthemorning
Posted on 10/1/14 at 8:53 am to inthemorning
quote:
I like how a firm using the government for advantages is portrayed as a failure of small-government ideas.
exactly
this is a great side-point to that comment
quote:
Wealthy individuals can qualify with the Securities and Exchange Commission as accredited investors. This means they can invest in more things and have fewer protections afforded to them.
the policy behind accredited investors is a type of consumer protection: we don't want poor people taking risks in investing
it's sold as a nanny-state behavior
what does it do? it creates different rules for the rich and everyone else, which gives the rich a decisive investing advantage
PROGRESS!
1
Posted on 10/1/14 at 9:01 am to SlowFlowPro
quote:
the policy behind accredited investors is a type of consumer protection: we don't want poor people taking risks in investing it's sold as a nanny-state behavior what does it do? it creates different rules for the rich and everyone else, which gives the rich a decisive investing advantage
Unfortunately they continue to implement policies that do this time and time again while advocating for even more. It's either borderline insane or just plain corrupt.
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