Stinky The Clown
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Fri Aug-27-10 10:23 AM
Original message |
A continuing myth that needs to be changed: "Wall Street was a casino for the rich." |
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The word "casino" implies risk. There was NO risk. The game was rigged. We got robbed. The cops were part of the gang that robbed us.
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lame54
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Fri Aug-27-10 10:25 AM
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1. The word CASINO is perfect - They OWN the casino |
Taverner
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Fri Aug-27-10 10:46 AM
Response to Reply #1 |
6. ...and the HOUSE always wins |
Roland99
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Fri Aug-27-10 11:35 AM
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closeupready
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Fri Aug-27-10 10:26 AM
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2. "House edge" refers to the fact that the casino can never lose, in the long-term. |
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So it's a perfect analogy.
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Cirque du So-What
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Fri Aug-27-10 10:27 AM
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3. It's more like a 'slush fund' |
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that they 'primed' from time to time in order to draw in suckers and then fleece them when the time was ripe.
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zeemike
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Fri Aug-27-10 10:33 AM
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4. That would imply that casino games are not rigged. |
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But they are just like Wall Street....the house always wins.
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deminks
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Fri Aug-27-10 10:45 AM
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5. That, and they want Social Security to be their petty cash fund. |
jtrockville
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Fri Aug-27-10 10:56 AM
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7. PLUS it wasn't just for the "rich". Even non-rich people had |
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retirement savings looted in this scam.
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TheKentuckian
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Fri Aug-27-10 11:02 AM
Response to Reply #7 |
8. You don't get to use the casino. What you lost was the actual capital. |
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They use our money for the investments, while making huge sums for bundling your money for capital investment.
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jtrockville
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Fri Aug-27-10 11:30 AM
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9. Yes indeed you're right. I was well and truly robbed blind. |
Roland99
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Fri Aug-27-10 11:36 AM
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11. It's a casino for the regular investor |
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who can lose it all in a heartbeat (Worldcom, Enron, etc.)
But the institutional investors and those running the HFTs are safe as a baby in its mother's arms.
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Doc_Technical
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Fri Aug-27-10 12:08 PM
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12. A favorite Robert A. Heinlein quote: |
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"Certainly the game is rigged. Don't let that stop you; if you don't bet, you can't win."
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Skidmore
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Fri Aug-27-10 12:12 PM
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13. It was a casino until they forced the lower classes to invest their |
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retirement monies in it, then it became a giant piggy bank.
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DU
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Wed May 08th 2024, 11:48 PM
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