Re: WB/IMF reconstructing capitalism yet again - !!??

["Charles Brown" <CharlesB@xxxxxxxxxxxxxxxxxxxxx>]

>>> seamus2001@xxxxxxxx 08/22/01 02:12PM >>>

> ((((((((((
>
> CB: Since it was bailed out when it lost its bet, LTCM was taking
zero risk. It was the opposite of a high risk taker , yet it is
"rewarded" the most of all because it claims to take risk.
>
> (((((((
=======
Ex ante it took the risk. Ex post, the risk was diffused.

(((((((((

CB: If ex post it didn't take the risk, then it didn't take the risk. The ex ante risk was an illusion.

((((((((



Socialism of
risk is just an egalitarian diffusion of risk. The calculus of
diffusion of risk is the politics of finance capital.  It's the ex
ante/ex post issue that's problematic if we accept that 'future' is as
much an act of creation as discovery.

Ian