order to make mathematics more interesting, the teachers teach in the local primary school, her third-graders' math games, number games. Multiplication pyramids, numbers, bingo. Calculating competition against the clock where you can, if successful, more and more "levels" to achieve - as in computer games. N. love these games, his classmates as well.
Adults also appear in the so-called real life, the gambling associated with highly attractive with numbers. However, by sound mathematics is not much to see. Therefore, the higher the numbers, the more exciting the game.
to how high the losses with unsold cars, up to as Ford, GM or Chrysler chief flies from the field? How many millions just the state and taxpayers' money that had preserved its windy company just before the bankruptcy can be approve nor as an investment banker bonuses, before popular anger boils over? How many billions can grab with a simple chain letter, before the thing blows up?
Here, the "Ponzi scheme" of Bernard L. Madoff, the outrage large. Fraud, illegal, terrible. But: What is the difference between such a pyramid scheme and all the other Zockerei on the financial markets? When about bad loans in collateralized debt obligations "- in short CDOs - renamed, with a first class Rating is provided and then touted as safe investment? The online encyclopedia Investopedia defined Ponzi scheme as "fraudulent investment model that pretends to investors high returns with low risk." -?
Why all anyone has noticed before? conjure up with all these so-called financial instruments that money out of nothing appeared? Well, yes there is some notice - but their reports have also been put on hold as their careers. Not even Warren E. Buffett is the most with his bold warning penetrated in derivatives and other instruments of this kind if it were " WMD " . This was after all in 2002.
Then me among all the reports is MilliBilliTrilli-ones and-lion of losses, depreciation, Bailouts, etc. but noticed another figure. 4000, not so spectacular. Were not only the dollar. But page numbers.
4000 pages had a contract that a comprehensive financial provider for the mutated life insurer somewhere in America aufschwatzte a small power company. A creative financial tool, a kind of tax shelter. And could not read because in the small utility, a very healthy up to that non-profit companies, no one these 4000 pages, or even understand, the company is facing bankruptcy.
For somewhere in the 4,000 pages written was hidden, that could occur under certain circumstances, a situation where the utility liable for not complying with a specific contract clause with a three-digit million amount. Just found this situation of life insurers, of course, when he even in the wake of financial crisis came. Hard to say whether the court which will now rule on the matter, nor by increases before the company is financially in the end. Just because they wanted to join the big lottery once.
Thomas L. Friedman , best-selling author and columnist New York Times appealed, a few weeks ago to his countrymen, the gamer-economy renounce and values rediscover that America had once made great : "The Puritan ethic of hard work and thrift What is still one. . Me is met with disgust by the thought that this ethics now more alive in China as in America, "
Complete nonsense, by Lewis Lapham, the great journalist and long and deep editor of Harper's Magazine " I do not know who lived in the country Friedman during the past 30 years, or in which souvenir shops in New England, he digs his treasures of American history, "he wrote in the January issue of Harper's . In any case, the misunderstand Friedman economic and political history of the United States as thoroughly as the nature of the "American dream".
Instead of moral and honest work, Lapham, built the United States already its initial beginnings on speculation and piracy, "Our war of independence was the hard-hearted greed that New England captains won who sacked on behalf of the Continental Congress in 1775 by British vessels supplying arms for the royal troops in Boston burned and auctioned. "
the pirates were financed in the public service by a thriving Risikokaptialmarkt. And even then there were the investors, venture capitalists in modern usage, the later pocketed the lion's share of the spoils. 1775 were only ten to 20 such privateer ships off the northern coast of America made the move in 1783 as 4000 predatory "investment vehicles" the Atlantic waters from the Caribbean to the Mediterranean unsafe.
Since then, the thesis Lapham, put it in the genes of the American Dream: A fast dizziness, an elegant trick is hard work to be preferred whenever the opportunity arises.
I know - Obama, embracing change, change. But perhaps we should be prudent not to assume that in America from now on everything will change.
(Princeton Post XXIV)
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