Damage caused by options and derivatives

Jordan Hayes jmhayes at j-o-r-d-a-n.com
Wed Apr 25 12:49:51 PDT 2001


Todd writes:


> the simple matter of the existence of private stock, owned in
> order to get wealthy off the backs of workers ...

That's probably a mischaracterization of the role that stock plays. The exploitation of labor by capitalism doesn't require the issuance of stock. Stock just serves as a mechanism to distribute the risk associated with said exploitation. In that sense, a more accurate critique of Bob's "options don't count" is that stock is itself a derivative (whether it's of P/E or hype, you choose) and so he's kidding himself.

Hey Dennis, how come the Euro is still a piece of shite? I keep wanting to go long, but I far more often wind up getting short. And winning.

"Trade futures or go home"

/jordan



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