this post was submitted on 24 Jun 2023
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[–] [email protected] 26 points 2 years ago (2 children)

When things are going well, so many feel like the person avoiding or mitigating risk is silly and dramatic, and the person running headfirst into that risk is brave and rational. Then, when something awful like this happens, it’s always, “No one could have predicted this tragedy!” and they learn nothing.

[–] [email protected] 8 points 2 years ago (1 children)

This was the whole cause of the 2008 financial crash.

[–] [email protected] 8 points 2 years ago (1 children)

And the 1980 crash, which lead to many banking regulations, which were removed shortly before the 2008 crash for stifling the economy. Stifling and stabilizing look very similar until you get to the negative parts.

[–] [email protected] 8 points 2 years ago

It is just the process of externalizing costs in internalizing profit. Get rid of regulations, take risks, make a lot of money, when the shit hits the fan say who could have known and get someone else to pay for it.

[–] [email protected] 6 points 2 years ago

I've been the lame guy at so many drunken bon fires...it sucks but I swear I've saved a lot of folks from themselves, others were beyond my help.