G20 resolution targets financial market 'cowboys' - ABC News (Australian Broadcasting Corporation)
I've always thought of myself as a bit of a rebel, if not quite a "cowboy". But I've never been able to turn that anti-social streak into a profitable asset, because I'm bound by a set of stupid old-fashioned principles.
I see now that this was my major weakness. To be both unprincipled AND anti-social is to court wealth and fame on an undreamed-of scale.
But enough about me. Is this change we can believe in?
You know, financial markets are the ultimate confidence trick. Money itself is really just a confidence trick. If I tell you this stone is worth $100 and you go trade it with someone else who believes it's worth $100, that's "currency".
Nobody is changing that system, they are just re-inflating the bubble of belief with trillions more dollars.
Will we fall for it again? Probably. Those pretty stones are just so shiny, aren't they.
I've always thought of myself as a bit of a rebel, if not quite a "cowboy". But I've never been able to turn that anti-social streak into a profitable asset, because I'm bound by a set of stupid old-fashioned principles.
I see now that this was my major weakness. To be both unprincipled AND anti-social is to court wealth and fame on an undreamed-of scale.
But enough about me. Is this change we can believe in?
But in the final word on the long-fought battle for tighter regulation, the end result is non-binding guidelines on pay, no call for legislative change, and support for a shareholder vote on executive salaries.
You know, financial markets are the ultimate confidence trick. Money itself is really just a confidence trick. If I tell you this stone is worth $100 and you go trade it with someone else who believes it's worth $100, that's "currency".
Nobody is changing that system, they are just re-inflating the bubble of belief with trillions more dollars.
Will we fall for it again? Probably. Those pretty stones are just so shiny, aren't they.
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