Every Kind of Greed is Just Human Greed

I highly recommend subscribing to Matt Levine’s sardonic finance newsletter, Money Stuff. It’s kind of like Today in Tabs for investors instead of media people. And I love this passage from today’s edition, even though it’s not a joke:

“‘Wall Street greed’ has no explanatory power. Everyone — well, everyone charged with financial crimes, anyway — wants more money. Some people want more money to feed their families, some want more money to buy a yacht, some want more money to feed a gambling addiction. There is no clean dividing line, no way to separate ‘Wall Street greed’ from the usual complex of human motivations and worries and failings. If you are looking to punish ‘Wall Street greed,’ while leaving normal self-interest and ‘addiction and mental illness’ alone, you will always be disappointed.”

Of course, “wants more money” is a just a proxy for “wants more freedom and power” — besides, aren’t freedom and power two sides of the same coin? Pun very intended.

Anyway, if you want the amusing bits, I’ve tweeted some of those.

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