If I buy shares in Spacely Sprockets at a low price, and then sell later at a higher price, haven't I taken someone elses' money. Sure, I'm not forcing them to buy my stock (it belongs to me, not Spacely Sprockets) but isn't that taking someone's money?
I bring this up because there is plenty of action on Wall Street that involves the "Pump and Dump". Various brokers and promoters will drive the price of a stock up with great sounding reports so that they can then dump their stock holdings on the excited investor. The stock then deflates when the pumping stops. It happens all the time. Take the recent Facebook IPO as an example. Or Enron.
When an investment firm buys a company, tears it into components, sells those bits, destroys pensions for the workers, fires them, and walks away with enourmous profits, aren't they taking other peoples' money? When big companies use elaborate tax shelters to keep from paying their legal taxes, aren't they taking money away from people? When investors naked short a stock, aren't they taking other peoples' money? When banks use clients money for highly risky investments and don't cut them in on the big profits? When the big banks get bailed out...
Guess I'm just stupid to see it that way.
(Edit...this post is slightly tounge in cheek...slightly...)
Current Events » in reply to For liberals, money isn't important because they always use someone else's.
consider this:
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