Reply #1: Even Carlo Ponzi didn't intend to create a catastrophe [View All]

[Warpy]

He was a sleaze who only saw short term gains and was incapable of planning long term. He thought he'd know when to quit. He didn't, any more than the hedge fund managers who were being lauded in the financial press as recently as last year for having pay packages in the hundreds of millions of dollars because they were so very much smarter than the rest of us.

That's the real problem. These guys think quarterly. The best of them might even think annually. None of them is capable of thinking farther ahead than that.

That's why the government needs to be run by people who are capable of thinking long term, and that isn't businessmen.

This catastrophe wasn't engineered. It was created by men who thought those quarterly profits would last forever.