Re: Credit crisis in Greece, others to follow...?
Main Street is inhabited by average investors, many of whom enter the market fully aware of the inherent risk involved, yet desirous of wealth.
Why should the government reward the cupidity of fools ?
fully aware of the inherent risk involved;
yet desirous of wealth.
average investors; desirous of wealth; cupidity [eager or excessive desire]; fools [a silly or stupid person; a person who lacks judgment or sense]
There is no such thing as a free lunch. Investors can't decry the alleged abuses of Wall Street, especially when it is they who decide whether or not to invest. It is foolish to expect others (i.e., government officials) to be held accountable for one's ill-advised decisions. A rational person must accept failure as well as success. The fool is he who endeavors to subsidize failure and privatize success, for such a system is unsustainable.
Regulators exist to protect investors from themselves. Foolishness breeds the illusion that ordinary investors can, under high-risk circumstances, triumph over Ivy League grads (i.e., Wall Street types) boasting IQs in the 130 - 150 range.