Greediness is a good thing, don't blame it

I saw, now, everybody blamed wall street too greedy. But I thought greendy was a good word, people will be counter-evolved back to monkey if not greedy enough.

I've a different opionion than all the other people, I don't think the current crisis was resulted from greediness. Maybe you can call it too agreesive.But that's not the reason either.

Let's back to the questioning why this problem occured at first place. I think this is just a normal process of science. Unlike region, which is alway right, Science is something always wrong. You know that Topller was wrong, Aristle was wrong, Newton was wrong too. Even Eintein is wrong. Only mighty God always right. so He doesn't have to evolve any more. But all the science is wrong, otherwise, it is not science. But science will always correct itself in the next round, and move forward.

Financial is also a science, it could be wrong too, that's the current cituation. Why AIG got into trouble, not because they lost big cash, instead, because their ratings were downgraded. AIG has a highest rating AAA for a long time, from Moody's, S&P, Fitch, ..., those ratings were calcuated from monte carlo simulation, they are all science and mathematics. Converted into probabiity, AAA means 0% to default, at the cooperate familty , cooperate credit, equity Implied Ratings and Probability of Default, these issuer level and also different seniority issue levels. Then the back money AIG needs is very low, but when AIG's rating downgraded, huge money are required for AIG, just put there aside, needed to run business. Not only the rating, there are also outlook and watchlist also, will affect this also.

So ratings, outlooks, and watchlist (down, up, neutral) are very important to not only banks, but also each company, even government, from local county to federal, but I think this kind of science of calculation has some pitfalls to get things healthy. I will report more after I done further research on this.

Anyway, it's all the fault of science, and it's normal, greedy is a must to keep the human being's evolution. Don't kill it. Government need to intervene, it's like in the chaos of boxing match, referee needs to restore the order, and keep the match going, don't just complain who's responsibiity, that complaning itself is too selfish.

Now, big money needed to restored the game, otherwise, all the markets will be dead, no body is willing to lend money any more, you don't want to buy assets from someone rated CCC, banks will not trust each other either. If that comes true, everyone has to counter-evolve back to the 牛郎织女 era

所有跟帖： 

• You will never kill people's greed. -Aceofspades- ♀ (43 bytes) () 10/02/2008 postreply 13:00:54

• ding. -729418- ♀ (0 bytes) () 10/02/2008 postreply 13:01:09

• Greediness is human nature, it will always be there -surreal- ♀ (0 bytes) () 10/02/2008 postreply 13:05:35

• no, we blame the congress for passing the greed bill -youaresmart- ♂ (0 bytes) () 10/02/2008 postreply 13:11:17

• Religion is always right? Why there are so many of them -B94720- ♂ (87 bytes) () 10/02/2008 postreply 13:18:13

• I mean Religion is always "self claimed" right. Science admits i -大家帮我买房- ♂ (0 bytes) () 10/02/2008 postreply 13:25:09

• So it was stupidity caused this -ikidyou- ♂ (70 bytes) () 10/02/2008 postreply 20:18:05