Investing vs Financial Engineering

[Matt L]

This is older but a pretty interesting blog from Mark Cuban:

http://blogmaverick.com/2009/10/10/the-cause-of-bubbles-financial-engineering-vs-investing/

 

[conraddobler]

This is older but a pretty interesting blog from Mark Cuban:

http://blogmaverick.com/2009/10/10/the-cause-of-bubbles-financial-engineering-vs-investing/

He's actually got it pretty well right.

Wall Street carefully crafted a very liberal casino.

The first step to correcting all this mess is to make people use their own money and own their own risk.

When you're stupid with your own money that's your problem, when you borrow some money and are stupid that's the banks problem for lending it to you.

When you're infinitely stupid with nearly infinite money that's backed by the citizens of the US, that's OUR problem.