Alan Grayson and Nassim Taleb Talk Punishment
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- เผยแพร่เมื่อ 9 ก.ย. 2024
- This is Nassim Taleb, the author of the best-selling book Black Swan, and Rep. Alan Grayson discussing Value-at-Risk models. Rep. Grayson asks how the people who lost $4T should be held accountable. The beginning of the video is Taleb talking about what 'talent' means on Wall Street in response to questions posed by another Representative, Charlie Wilson.
Nassim wears a tie?!
I was surprised too. Must be before he really started deadlifting.
Love Grayson. Love Taleb. It was awesome seeing these two minds bounce ideas off of each other.
Thank you for posting this, it at least gives us some confidence that our government is doing "something" on our behalf...
If you let the businesses go bankrupt, you don't need to try to make these silly regulations.
Bookstabber tries, but I agree, I question his competency/experience/insight into these matters. For example: he mentions that risk managers should be held accountable for bad decisions. While that may sound like a good idea (and is probably well intended), risk managers have no clout. You really need to have the CEO and possibly Board of Directors assume liability for this to actually have a fighting chance of working.
"no one makes money 'legitimately' while people are losing their homes."
I just had to rewrite that sentence because it was so fantastically stupid.
why not simply let banks fail when they are suppose to fail. The free market brutally punishes inefficiency and corporations that reward bad behavior will fail. AIG wouldn't have had any executive bonuses this year if it went out of business in November last year.
It's now 2017, could you tell us what has been legislated or not since this hearing. Thanks.
The problem with banker bonus is rewarding short term success on long term bets, why not change the rules to defer bonus' until everything is settled.
@equsnarnd Could you elaborate a little more on how the individuals you've listed are involved in this whole thing? I'm familiar with Paulson, Greenspan, and Bernake but not so familiar with the direct involvement of the others you have listed.
@nagee76 Dear @nagee76, Thanks for your informative comment. You are correct, Mr. Grayson was (is?) responsible for everything bad in the US today. My advice to you is to run - don't walk - to the nearest psychotherapist. Thanks again for your comment. Have a nice break down.
9:25 - "It's much easier to fool people with billions than to fool them with millions".
Alan Grayson's constituents must be very happy right now.
I think this was the first and last time he wore a tie
Gawd. It wasn't 'collective incompetence', it was collective GREED. Once they started telling us how much 'talent' they had that they deserved massive bonuses, the question of being fools or incompetent no longer stands. Put them all in jail, throw away the key and seize their assets, their wives' assets, and their children's assets. And tell them they're lucky they weren't put in front of a firing squad like in Romania and China.
financial crime will keep on going at the highest level when there is no punishment.
Where there is no punishment, expect crime.
2:16 This guy really wanted to say the most useless and stupid comment at that moment....wtf was he trying to achieve with that nonsensical comment! Makes me so angry..
Could someone post a link to the whole hearing thanks ?
indeed indeed indeed!
Taleb the GOAT
Let risk managers take the wrap for this? Is he crazy? As if any trader listens to risk management...
Bookstaber knows nothing lol
What made you think he doesn't want the fed audited?
where can we find the full video of this?
I would go back year's when these crooks started fine for everything they have and pout to hard labor fore the rest of there life
if he fights for the ppl then it was worth it..and prolly the only way he had to get power to fight for us.
to fight a corrupt system you must play by thier rules
What does this Dr. Bookstaber do? Stabbing books with knives?
Grayson was not voted back? Florida doesn't care at all about this issue or any of the other issues Grayson brought to the front burner. What is in the water in Florida?
we're they crooks or fools that's for courts to decide thats why rules are put in place to draw lines in the sand you go over the line it's your ass everyone else has to play by those rules why are these people any different
This is great except Taleb is wearing a tie...
1:06 Dr. BOOKSTABER !?? LOL I'd love to stab those college books! Every year a new fucking edition, and every year $150 per book for people majoring in the sciences!
This talk of bonuses is a red herring. The bonuses are in the millions. The practices which includes the pay off to counterparties nationally and internationally, including Goldman Sach and Barclays, are in the BILLIONS! Let determine what this is all about. I think Eliot Spitzer is more relevant here, not that there shouldn't be clawbacks. There should most definitely be!
they don't want understand mr. Nassim or are too dumb to understand him
you don't know what you're talking about. Talib was warning of this disaster years ago and has in fact made millions off of it in a legit manner by shorting the market all the way down.
May Baal protect us!
My opinion is irrelevant. He believes in a free market that allows failures to fail is optimal. If you believe in a planned economy then that is your business.
any1 notice the bloke to bookstaber's left is rubbing his crotch the entire time
@30percentplusreturns
"Im sure 99% of congress has dirt and blood on their hands from this crisis."
Have you looked up which politicians did what? which politicians voted on what and which way? Otherwise you have 99% guessed statistic.
Hey Grayson, WH did you vote to defund ACORN?
@nagee76 Once again, sorry I don't have your insight into all things good for America. If Mr. Grayson is "grandstanding" he should be voted in for doing a better job than any of his Republican counter parts. He may have, as you suggest, an "agenda" (what politician doesn't?). He asked all the questions to which most non-FOX News watchers want answers. He even asked the right people! Problem is in Washington you're not allowed to ask. I think you hate him because he is intelligent and educated.
Taleb is smart, but why does he obfuscate so much?
The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of [private cartel] lending institutions and moneyed incorporation's.
President Thomas Jefferson (a founder of America in condemnation of present and future monopoly money power.1743-1826
Paper money is poverty, it is only the ghost of money, and not money itself." Thomas Jefferson to Edward Carrington, 1788
because society can collapse. why not allow police strikes?
I'm not a partisan shill - you are - and an unwitting one at that. I don't recall ever comparing Bush to Hitler, you have me confused with someone else (although the comparison has historical significance outside simple gain-saying). There is no shoe on another foot. Grayson is not now, and never was the president, voted in with tremendous controversy and rule manipulation. All that aside, you have never made an argument. You have only made angry accusations and called me foul names, right?
you don't know what you are talking about. Talib is one of the people who saw and warned of this disaster years ago. He doesn't want tax payers bailing out failed institutions.