Sounds like it might have been a bit of business from a novel by Bruce Sterling or Charles Stross:
Nasdaq OMX Group said on Friday it will launch options trading on its three-week old Government Relief Index, which tracks the performance of companies bailed out by U.S. taxpayers.
Heroic Randian capitalists — masters of the universe, if you will — will save us.
[Image: Tony the Misfit; story tip: Atrios]
2 thoughts on “Social capitalism: The bail-out index”
I honestly don’t understand the value of this sort of thing.
It’s the same deal with carbon credits – if you can build a international system of treaties to regulate and monitor a cap and trade system why not just bite the bullet and put an international revenue-neutral VAT on fossil-fuel use?
In this case the stupidity stems from a mistaken belief that individuals working in a free market are uniquely capable of coming to rational conclusions as to the future value of assets, compared to governments, bloggers, or some random witchdoctor.
Do all our Congressmen and Congresswomen own bank stock? Nancy Pelosi wants more TARP money than the 700 billion already wasted
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