[ExI] Don't be evil

[BillK]

On Wed, Mar 24, 2010 at 2:40 PM, Dan wrote:
> 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.
>
>

Naww. You're still too idealistic.
I don't think you've had much dealings with psychopath businessmen.  ;)

If there was nobody available to bail them out, or their reputation
became so bad that they were running out of suckers, they would just
call it quits and move to their Caribbean island. (Or, sometimes, it
is enough to start up a new 'improved' company and carry on as usual).
The next generation of wolves is always waiting to take over and start
the scams all over again.

Once the wolves see that the free society is so slow to react that
they have time to take their winnings and run, there will be a
never-ending supply of wolves.


BillK