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 [闲聊]conspiracy theory: GCW vs Wall Street |
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| 所跟贴 |
none is as evil as the greedy ones of wall street -- strawhat2tiny2tiny - (374 Byte) 2009-11-25 周三, 23:48 (395 reads) |
chinokino
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作者：chinokino 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
No.
Does the whole service sector create anything concrete? No. That includes, the legal profession, the law enforcement, the government, the entertainment profession, and hospitality industry, etc. etc.
Whether an industry adds value to anything, let me give you an example:
A factory sells a thousand truck loads of products to another factory and is waiting for a large payment. Meanwhile, the seller buys a credit default swap from an investment bank. A week later, the buyer declares bankruptcy. The investment bank pays the seller for the credit default. The seller gets to continue its operation.
Did the investment bank add value to the industry?
And, that is the notorious CDS product I was talking about.
Why does the investment bank sell the CDS to the factory? Because the people at the investment bank are greedy.
If they weren't greedy, they wouldn't take the risk and try to make money. If they weren't greedy, they wouldn't have exposed themselves to the risk. If they weren't greedy, the factory would have ceased operation.
Now you are saying, those who sold the CDS are evil.
By that I assume that you were saying, the factory in my example should have ceased operation. The employees there should have been laid off. Their kids should have no new clothes for the New Year. I guess all those put together, is not evil. The investment bank is evil, just because they sell CDS.
作者：chinokino 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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