32 Seconds Of Nassim Taleb Kicking Bob Rubin's Ass

Video: Taleb slams Rubin and Citigroup...

• "It's not Socialism, it's not Capitalism.  It's the worst of both."

• "The truck driver is paying taxes to subsidize Robert Rubin's bonus."

The Black Swan, Nassim Taleb points out how taxpayers paid for the losses at Citigroup AND subsidized Bob Rubin's bonuses.  Taleb also brings up two of my favorite topics of conversation: pitchforks and clawback.  OK, I imagined the pitchforks.  But why SHOULDN'T we claw back Bob Rubin's bonuses, Taleb demands to know. 

Good question, Mr. Taleb.  I'm sure we could think of other candidates for clawback, too: Paulson, Thain, Prince, O'Neil, Casanno, Blankfein, et al.

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Comments

[DailyBail]

Who else loves this clip...besides me.

Here's our Nassim Taleb archive:

http://dailybail.com/display/Search?searchQuery=taleb&moduleId=4094525

[Sonic Ninja Kitty]

I love him. The thing that gets me is people like him are saying such inarguably logical things that they (we) have to repeat many times over, and yet STILL they (we) face a rebuttal of "But....yada yada...." and things STILL do not change. They get even worse if anything. It's bizarro-land. It's incomprehensible how this stuff is still going on.

[spideydouble]

@ Unregistered CommenterSonic Ninja Kitty

Bizarro-land indeed. The longer justice is withheld by official authorities, the likelier it becomes that people will take justice into their own hands and become vigilantes. It is equally true that the longer justice is withheld, the likelier justice administered by vigilantes becomes disproportionate with the crime. I am not advocating this. It is a fact. Rubin, Paulson, Thain, Prince, O'Neil, Casanno, Blankfein, et al. should beware. I hope they have bunkers ready and are prepared to live as recluses with a competent security detail. Look at Saddam. He amassed his countries wealth for himself and ended up living with his own $#!t and piss in a whole in the ground. One of his best palaces is now the U.S. embassy.

[James H]

"The longer justice is withheld by official authorities, the likelier it becomes that people will take justice into their own hands and become vigilantes."

spidey,

True indeed. Tuesday was Bastille Day. Vive le 14 Juillet!

[gobias bluth]

WHY, you ask why...here is your answer...O B A M A, yes we can.

[DailyBail]

For newcomers (in fact 75% of our visitors every day are NEW...never had their IP recorded on our site even once)...here's what we do:

We cover all stories related to the institutionally dysfunctional, painfully inept and completely counter-productive taxpayer bailout of failed people, ideas, businesses, pensions, municipalities, states and ultimately, we fear, of our federal government.

Tell your friends about our site and what's going on in Washington. Help us spread the word about the immoral transfer of debt from failed, private banks directly onto the backs of your chldren. And to young people directly, seriously wake the f up, and realize that it's mostly your cash that's headed out the door.

[namnujac]

Thanks for the work at this site. I pray for someone to prove me wrong, but the way it appears, the ownership of America had to be removed from the citizen by making citizens indebted to failing institutions (made so by corrupt legislative actions). Once a majority of the Nation is upside down, the perpetrating banks will strike by attempting to collect on the debts. When the US Government (tax payers) cannot repay the debt, an international law suit could ensue, calling for the formation of a more" trustworthy" central bank. One like the EU's ECB or better yet, like the Bundesbank. After all, the powers-at-work want the future of all lending institutions to look like their carefully conceived models.

Are we witnessing the creation of a new form of global empire? One that will pit nations against each other for profit? We should all fear the day when nukes are gone. Then there will be nothing keeping them from thinning the global population.

[Richard Carpenter]

Harry Markopolos has proven the SEC useless, but why didn't anyone else listen to him? Probably because his last name is Greek, because he is an accountant, and because he has a detail-oriented personality. No one will ever call Harry Markopolos charismatic or compelling. Those who knew what Harry Markopolos said but did not listen deserved to lose their money. Harry Markopolos needs a partner to promote his predictions and go short right before his next scandal alert. Unfortunately, that is considered insider trading. There was a supreme court case in which a prison sentence was upheld for a man very much like Markopolos who shorted a company that he discovered was doing shady accounting. Even though all his information was discovered legally, the court ruled it was "inside information" simply because he was able to profit from it.

[DailyBail]

enjoyed the comment richard...

[AK]

When you constantly ask yourself "Can this be real or is it some sick jock?" and when truly unbelievable, ludicrous and outrageous events are accepted as "normal", the end of the civilization is near. This country, because of politicians 1st and lawyers 2nd, has become an old sickly patient in the ICU. The bailout and the printing of trilliions of dollars that has taken place is just a last ditch effort to save the patient, but the patient is unfortunately gasping for its last breath. It is truly unfortunate, because USA was truly the dream country for anyone who wanted to work hard and make something of themselves. Our politicians sold the country for nothing to the Chinese and to OPEC.