Monday, June 6, 2016

World without Wall Street

Moral: Wherein, we imagine a world without Wall Street.


What a wonderful thought. Thanks, Nitin Nohria of Harvard.

The good professor, among other things, bemoans that his father did not buy a house until he was 60. Ah, poor guy.

Listen, professor, I did not buy a house until I was 62. As well, I, specifically, picked a bank that did not sell the mortgage. Albeit, they did buy into that mania after the crash as they thought that they were going to pick up a diamond for nothing.

The reality? They got a lump of coal. Yet, me, great customer? I have been paying my mortgage all of these years despite Ben and Janet.

Now, if you abstract'd types want to hear about reality, I am here.

Wall Street? We could run this with the discipline of the military. Look, Professor. You ever think of those who are dutifully protecting those Wall Street idiots?

At one time, I thought monks. Say, those who would take a vow of poverty. Listening, Zuck?

But, being that this whole thing is a utility, we need to run it thus. And, that would mean non-profit. Then, we would need some sense of service, discipline, order, fairness, and so forth.

Cambridge had that early on before things went awry.

Oh yes, financial engineering is gaming of the worse sort since it is unfair from the get-go. I am still looking for the scientific basis for this "engineering" (tsk, tsk, MIT).

Remarks: Modified: 06/06/2016

06/06/2016 --