Am I allowed to buy life insurance on someone else's life and also own a licence to kill him? Right. Then why am I allowed to buy a credit default swap (a form of unregulated insurance) on a company whose bonds I own that will pay me shit loads more money if the company goes bust than if I sell the bonds in the market for a profit? If you can't have your pie and eat it too when it comes to someone's life, why allow it when it comes to their money? It's lethal and deadly. Not even the Mafia could collect life insurance on someone else's life, so why are we still discussing allowing the practice on Wall Street?
http://www.thinkaloo.com
Sunday, October 25, 2009
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