?? ?You can call them "games" or whatever you want to call, but they are financial products which are critical to fund people's daily economic activities (imagine your mortgage without wall st suckers), ?and lifeline to ?entrepreneurs. A lot of the products are bad some are scam just like any other products.
I do believe that those wall street suckers are paid way too high and a big chunk of the "performance pay" is not proportional to performance. It is absolutely necessary to reform our financial market. But that is another subject.
I do not know how to respond to your second paragraph. I disagree with some points, and agree with the other points.
Most pension plans were underfunded because they were based wrong assumptions:
1. The assumption of annual return were too high;
2. The assumption of life?expectancy were too low.
Then you have fund management take a cut from already underfunded PPs, the outcome is obvious.
These kind of corporation PPs are absolutely unsustainable, they have to be in national scale. CPP is still ok, however even Social Security in USA faces a huge challenge.
This is also my response to your other post.
loneshepherd 发表于 2011-6-20 18:29 http://bbs.51.ca/images/common/back.gif
Yes, Mortgages are good, daily loans are good, because they help pushing people forward. But is CDIC good? This is the direct culprit which caused trillions of dollars lost. I am not a fan of options either. Yes, when options came out, they were to alleviate risks, like people do covered calls, but what now? There is nothing wrong with capitalism, but when it went to some extremity, it is wrong. And Wall St has gone thus far.
Well, maybe we have gone too far on the topic, it is more of a left-or-right debate. |
楼主: Lescid
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发表于 2011-6-20 17:50:30
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