Nassim Taleb on Wall Street Protest, Banking - Video - Bloomberg:
While he is talking about Occupy Wall Street, he focuses mainly about the asymmetry of returns when taxpayers bailed banks out, but bankers have since received large bonuses. Short version: if you ever get a bailout, you are paid as a utility. Bankers get special treatment and he is not sure.
He ends by tying things back to OccupyWallStreet and his fear of class warfare.
(I will have a further comment soon)
HT to Prieur Du Plessis.
While he is talking about Occupy Wall Street, he focuses mainly about the asymmetry of returns when taxpayers bailed banks out, but bankers have since received large bonuses. Short version: if you ever get a bailout, you are paid as a utility. Bankers get special treatment and he is not sure.
" Oct. 18 (Bloomberg) -- Nassim Taleb, author of "The Black Swan" and a New York University professor, discusses the "Occupy Wall Street" protest and his view of the global banking system."
He ends by tying things back to OccupyWallStreet and his fear of class warfare.
(I will have a further comment soon)
HT to Prieur Du Plessis.
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