Nobody reads the disclosures that roll down your computer screen. You click 'I agree' but you don't know what you're agreeing to.
Nassim Nicholas TalebRead
Bailing out every bank that fails makes the system riskier, not safer.
Interpretation
Bailing out failing banks can increase overall financial risk rather than reduce it.
Nassim Nicholas Taleb's quote highlights the paradox of financial bailouts, suggesting that intervening to rescue failing banks can create moral hazard and incentivize reckless behavior. Instead of providing stability to the financial system, these bailouts may lead to greater systemic risk and undermine the accountability that should accompany financial practices.
In practice
In a speech on financial reform, a politician could cite this quote to argue against bank bailouts.
Nobody reads the disclosures that roll down your computer screen. You click 'I agree' but you don't know what you're agreeing to.
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Those who were unlucky in life in spite of their skills would eventually rise. The lucky fool might have benefited from some luck in life; over the longer run he would slowly converge to the state of a less-lucky idiot. Each one would revert to his long-term properties.
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A good maxim allows you to have the last word without even starting a conversation.
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Every coercive monopoly was created by government intervention into the economy: by special privileges, such as franchises or subsidies, which closed the entry of competitors into a given field, by legislative action.
The only way America can reduce the long-term budget deficit, maintain vital services, protect Social Security and Medicare, invest more in education and infrastructure, and not raise taxes on the working middle class is by raising taxes on the super rich.
Hillary Clinton understands that if someone in America this country works 40 hours a week, that person should not be living in poverty. She understands that we must raise the minimum wage to a living wage.
People who think a tax boost will cure inflation are the same ones who believe another drink will cure a hangover.
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