Former Godman CFO Calls for Universal Basic Income to "Stave Off Revolution" - zerohedge.com
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Here are a few of quotes from the book, The Big Short, which tells the story of the financial crisis of 2008:
“In early October 2008 after the U.S. government had stepped in to say it would...absorb all the losses in the financial system and prevent any big Wall Street firm from failing.”
Third quote:
“Maybe the best definition of investing is gambling with the odds in your favor. The people on the short side of the subprime mortgage market had gambled with the odds in their favor. The people on the other side – the entire financial system, essentially – had gambled with the odds against them. What’s strange and complicated about it is that pretty much all the important people on both sides left the table rich.”
And the last quote:
“The world’s most highly paid financiers had been totally discredited; without government intervention, every single one of them would have lost his job. And yet those same financiers were using the government to enrich themselves. I can understand why Goldman Sachs would want to be included in the conversation about what to do about Wall Street. What I can’t understand is why anyone would listen to them”
