Satyajitt Das: Wall Street Loves Socialism in bad times

Satyajitt Das’s blog has an article of interest on the current movement in U.S. of privatizing gains and socializing losses.  In good times, Wall Street embraces capitalism, but when the tide turns, the Street flips and chooses socialism every time.

Das is a derivatives expert (maybe THE derivatives expert) and author of “Traders, Guns and Money: Knowns and Unknowns in the Dazzling World of Derivatives” (2006) — a must read.

http://www.wilmott.com/blogs/satyajitdas/index.cfm/2008/1/15/Socialism-for-Wall-Street

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