[ExI] Don't be evil

[Lee Corbin]

Oops, Dan already said it better than I did.

Dan wrote:
> I agree with you about the rapacious wolves on Wall St. -- which is why I've, time and again, argued for removing their special privileges. The current situation is not one where everyone is free to peacefully and voluntarily interact. Instead, certain fat cats and others who are linked to the state get bailed out and other things in their favor that allow them to maintain their position even when they make mistakes.
> 
> As for gamekeepers, the problem is the so called wolves are in bed with the gamekeepers -- and this will always be the case. After all, once you set up someone with a special position of power -- i.e., your gamekeepers -- someone is going to find a way to game that. (In fact, it's usually the predatory types who want regulation in the first place -- so that they can prey on others rather than worry about the vaguries of the marketplace or have to work at a real job. This is why a big bank will ask for bailouts rather than risk losing market share.)
> 
> Had we had a free society of the kind I propose, the kind of crises we see would be very unlikely as big banks (Citi), other firms (e.g., GM), and investors who made mistakes would lose money and, at the extreme, close shop. There would also be no credit expansion to fund the sort of unsustainable booms like the dot-com one and the current one.
> 
> Regards,
> 
> Dan