Deceit, Incorporated
One of the things you may have noticed as we’ve parlayed our way around the world of finance is how much of what goes on seems to be hidden beneath the surface. It’s almost as though most of the people involved were out to deceive us in an attempt to part us from the limited savings we’ve managed to keep out of the clutches of the taxman.
In fact, at one level, that’s probably exactly what’s going on. Market participants are engaging in an escalating war of deception to persuade people to give them their money. Taken to extremes this even goes so far as to encourage the citizen in the street to lie in order to boost the coffers of the securites industry. All of which is what you get when you replace the natural processes of social trust with actuarial projections.
One of the things you may have noticed as we’ve parlayed our way around the world of finance is how much of what goes on seems to be hidden beneath the surface. It’s almost as though most of the people involved were out to deceive us in an attempt to part us from the limited savings we’ve managed to keep out of the clutches of the taxman.
In fact, at one level, that’s probably exactly what’s going on. Market participants are engaging in an escalating war of deception to persuade people to give them their money. Taken to extremes this even goes so far as to encourage the citizen in the street to lie in order to boost the coffers of the securites industry. All of which is what you get when you replace the natural processes of social trust with actuarial projections.
