economics

April 26, 2010

Will Goldman Sachs prove greed is God? The investment bank’s cult of self-interest is on trial against the whole idea of civilisation – the collective decision by all of us not to screw each other over even if we can

Filed under: Uncategorized — ktetaichinh @ 2:13 am
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Even if he stands to make a buck at it, even your average used-car salesman won’t sell some working father a car with wobbly brakes, then buy life insurance policies on that customer and his kids. But this is done almost as a matter of routine in the financial services industry, where the attitude after the inevitable pileup would be that that family was dumb for getting into the car in the first place. Caveat emptor, dude!

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