When Gamblers Bail Out the Casino


	When Gamblers Bail Out the Casino

abailart

9-23-2008 3:12 AM

188 views

tags:

economic theory

abailart says:

Part of an article on a theory of gambling at the core of finance.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/c2928a8e-44fa-428d-ad11-7b2942f2ef3f/D725F18D-3E0A-4AC7-97A3-840B39521C72/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.atimes.com/atimes/Global_Economy/JI23Dj06.html" href="http://www.atimes.com/atimes/Global_Economy/JI23Dj06.html" style="font-size: 11px;">www.atimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.atimes.com/atimes/Global_Economy/JI23Dj06.html">Why should American taxpayers give US Treasury Secretary "Hank" Paulson a blank 
																	check to bail out the shareholders of busted banks? Why should the Treasury 
																	turn itself into a toxic waste dump for their bad loans? Why not let other 
																	banks join the unlamented Brothers Lehman in bankruptcy court, and start a new 
																	bank with taxpayers' money?</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.atimes.com/atimes/Global_Economy/JI23Dj06.html">Why are the voices raised in protest so shrill and few? Why will Americans fall 
																	on their fountain-pens for their bankers? If America is to adopt socialism, why 
																	not have socialism for the poor, rather than for the rich? Why should American 
																	households that earn $50,000 a year subsidize Goldman Sachs partners who earn 
																	$5 million a year?
																	</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.atimes.com/atimes/Global_Economy/JI23Dj06.html"><DIV>Alas for the gamblers of America: they will tax themselves to keep the casino 
																	in operation, but it will not profit them. Where, oh where, is America's 
																	Vladimir Putin, who will drive out the oligarchs who have stolen the country's 
																	treasure and debased its currency?
																	</DIV>
																	</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D725F18D-3E0A-4AC7-97A3-840B39521C72/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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