re: #249 Obdicut

I do demand they do better. It’s not by leaving me alone, though, it’s by forming a better regulatory structure to stop the side-effects of unrestrained capitalism.

You see, it’s phrases like ‘X of unfunded liabilities’ that show you don’t actually know what you’re talking about.

Unfunded liabilities over what time period? It’s a meaningless statement without that metric.

Should have said “unfunded future liabilities” - money owed to future retirees eligible for Social Security, for example.

We have experienced too many examples of failed regulatory structures, just one example being the S.E.C. which operating continuously during Bernie Madoff’s scheme. The most effective restraint of capitalism comes from market forces (make a serious mistake and you go bust), and from avoiding explicit and implicit guarantees by the government (which lead to abuse, and ultimately bailouts). We currently have a huge concentration of assets in the largest banks and this poses a serious risk to the financial system.