'Atlas Shrugged': From Fiction to Fact in 52 Years. http://online.wsj.com/article_email/SB123146363567166677-lMyQjAxMDI5MzAxOTQwNjkzWj.html Great article in the Wall Street Journal!
rofls, we are in this mess partially because of the influence of this book. Lack of regulations and cowboy capitalism led to the mess, not the other way around.
Exact opposite, my friend. We're in this mess due to artificially low rates for many years, and goverment forcing banks to lend to people that couldn't afford to pay back mortgages. It's that simple. Easy credit over borrowing got us to where we are and that is the fault of big goverment and over regulation.
Listen to it come from the horses own mouth. Here is Alan Greenspan explaining his relationship with Ayn Rand. Watch 4:40 - 8:00 http://video.google.com/videoplay?d...DeBoSY_HH6O6qAOCqMXFDA&q=alan+greenspan&hl=en
It never ceased to amaze me how many sheep dutifully believe what the state tells them. Independent thought is such a burden
The state tells me? This douchebag Alan Greenspan, who was the primary actor in bringing about this carnage in the financial world, is saying he was most influenced by Ayn Rand's Atlas Shrugged: Watch 4:40 - 8:00 http://video.google.com/videoplay?d...DeBoSY_HH6O6qAOCqMXFDA&q=alan+greenspan&hl=en
This mess was made because the people in charge of managing public companies preferred large short term bonuses to long term viability. they never would have made those choices with their own partnership money. Wall street found away to sell premium for billions and billions in bonuses. On a different but related note the dems compromised the integrity of the GSEs. Barney Frank's lover was on board of directors either fannie or freddie. the gse problem was bad. But the disaster was made by wall street crooks.
My friend, I worked in a bank. The salespeople asked every single person who came in if they wanted a home equity line. They telemarketed relentlessly to get people to take out loans. They were paid commission on their loans, more for neg-am loans. The government forced nothing. This problem was partially created by a bunch of 20somethings who were paid commission to write loans and mortgages to anyone they could. No loans, no paycheck.
Agreed! But in reference to the title of this thread, many of those wall street crooks were influenced by this terrible book. Atlas Shrugged is used like a Bible in business schools. My college professor would have jizz in his pants when he talked about Ayn Rand.