[clue-talk] Wow, Card's a little political...

[Angelo Bertolli]

Jed S. Baer wrote:
> On Sat, 01 Nov 2008 01:03:43 -0400
> Angelo Bertolli wrote:
>
>   
>> Believe me, I agree with you that the housing was not correctly 
>> incentivized, but don't think for a minute that this bubble couldn't 
>> have happened with a deregulated banking and housing market.  Pure 
>> capitalism is survival of the fittest and will take advantage of
>> whoever and whatever it can. 
>>     
>
> I don't believe it should have been incentivized at all. Also, pure
> capitalism would not have arrived at these god-awful mortgage instruments
> used to make mortgages to people who couldn't actually afford them. No
> pure capitalist would have put his/her investment money at such risk.
>   
So maybe I'm a cynic.  I really don't think people are that smart.  
Maybe your philosophy would change that over time, but as it stands 
right now I think there are plenty of people who would invest, plenty of 
people who would make dumb choices... and yes, this cynicism is what 
pushes me more philosophically towards Marx:  the people sometimes need 
to be protected from themselves.  Even I am uncomfortable with that 
statement... I'll have to think about it :(