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Nassim Taleb on Wall Street Protest, Banking


farnamstreet
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Thanks for posting.

 

I just finished watching it on your web site.

 

I am surprised how negative he is towards "bankers"...no consulting fees for Nassim.

 

His risk management idea is why I feel most comfortable when management has most of their net worth invested with me so they make money with me not off me.

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Thank for posting !! :D

Hammurabi’s code, ~3800 years ago, removed the agency problem as a condition for transaction: “If a builder builds a house and the house collapses and causes the death of the owner – the builder shall be put to death. If it causes the death of the son of the owner , a son of that builder shall be put to death.”Everything in past 100 years has been to shield managers from liabilities. Think of Fukushima.

 

Same as what Charlie Munger said about the Rome

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