Ian (ringbark) wrote,
Ian
ringbark

  • Mood:

Greed

Greed is good. So said Mrs Thatcher, but it has torn apart our
society. Preachers speak out against homosexuality, but greed is
usually listed alongside it in the scriptures.
Why did people invest in a lump of lava on the borders of the Arctic
and Atlantic Oceans? Because they could get an extra 2% and didn't
think about the fact that a higher reward was combined with a higher
risk.
Wrong: We must get the highest return possible for our ratepayers' money.
Right: We must act in a fiscally responsible manner with our ratepayers' money.
But why should the government or anyone else help people who lost
their money. Interest is not a reward for saving money: it is a reward
for lending your money to the bank and an acknowledgment of the risk
that you might not get it back.
Take another recent investment: the £1000 at 100-1 on Red Crocodile at
the 4.20 at Sandown Park. As it tuirned out, it came fifth. But nobody
wanted to compensate the people who had taken notice of the tipsters.
What's the difference? Don't forget that lots of people refer to the
lottery as "my pension fund".
And that is what it is all about. The desire for reward without risk,
and for unmitigated greed.
On a related theme, remember Bob Dylan: steal a little and they throw
you in jail, steal a lot and they make you king.
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