Comment: Awkward (Score 1) 2
And this after having been recently named to head the American Geophysical Union's new task force on scientific ethics and integrity.
Oops.
And this after having been recently named to head the American Geophysical Union's new task force on scientific ethics and integrity.
Oops.
Exactly. The FCC basically owns the waves that it's letting telecom use. They don't have to let them use that spectrum.
Last I heard the EM field belonged to everyone, telecoms included.
The FCC is just there to promote cooperative use of a resource owned in common.
Wonderful, a system that will save the company a metric fuckton of cash and they'll pass on some unspecified fraction to us. How noble. I'm not saying it's a useless or immoral thing (quite the contrary), but it's hardly cause for public celebration when a company does something to increase their profits and it coincidentally helps the rest of us.
But it isn't just a coincidence, is it?
In America, risk is socialized and profit is privatized. There's your mix of capitalism and socilaism. Perfect harmony, right?
You've got it mostly backwards.
Profits are socialized every quarter in the form of tax payments. And unless you're politically connected, your losses are private.
the fraud perpetrated by Goldman Sachs, Bear Stearns, Lehman Brothers, Merrill Lynch, Morgan Stanley, Deutsche Bank, Citigroup, BNP Paribas, etc, in one single day dwarfed by a dozen fold the fraud this mortgage guy perpetrated in his whole career.
where do you think they sold all those fraudulent mortgages?
Lehman et al aren't ratings agencies. It was the ratings agencies that vouched for those mortgages. Of course Lehman et al didn't trust those ratings and shorted most of the paper making billions. But they didn't originate the mortgages. It was lending agents and applicants that committed the fraud.
You dialed 5483.