Originally Posted by pvn
Yeah, that's a different incident.
How many people's lives were ruined by THIS incident. You know, the one the thread is about.
I thought your how many lives were ruined question was pertaining to my post about Enron, since you quoted my post about Ken Lay in your question
. Clearly this was a different incident, but my point was the system incentivizes bad behavior when you privatize the profit made and socialize the risk on losses. This hasn't been the case in the recent mess, but it is not hard to visualize it being the case had the jp loss been much greater
Companies are certainly entitled to take whatever level of risk they'd like as long as they don't have their hand out for the public to take the hit for their losses.