Tootfinder

"To be clear, allowing the free market to work its magic and put most of our largest banks out of business, along with many smaller ones, would have made the recession worse. But it would have done more to reduce wealth inequality than twenty Piketty wealth taxes."
#Kleptocracy
#billionaires

If AI is Crashing, the Story Should be Jail In, Not Bail Out
The end-of-the-week meltdown of Oracle, coupled with Sam Altman’s admission that his Open AI team has no idea what it’s doing, has many hoping that the AI bubble is about to burst. It’s too early to know whether we have yet seen the Bear Stearns moment of the AI bubble, but we should be on guard against another bad moment of the housing bubble: the bank bailouts. To remind folks, when most of the major banks’ greed put them at the edge of bankruptcy as the housing bubble collapsed, the …