Banking on degenerate gamblers

What’s the difference between traders at investment banks who gamble on “securities” and degenerate blackjack players with a lot of money to lose?

2 thoughts on “Banking on degenerate gamblers

  1. The big difference is that the blackjack players typically play with their own money, so any losses come out of their own pocket. Investment bankers (and the banks that employ them) split any winnings they get, and stick the taxpayers/shareholders with any losses.

  2. I often opine that the poor have scratchers and powerball and the rich have Wall Street. The biggest difference being if I won at Lotto that I’d be taxed much more heavily on my “winnings” than the rich get taxed on their “capital gains.” Oh and at least when I’m “investing” in a lottery ticket the money goes to schools, as far as I’m aware Wall Street money appears to largely go to paying for second and third vacation homes overseas for the gentried class. It’s no fun owning a jet if you don’t own estates with which to travel to I guess.

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