Former options trader turned philosopher, NYU Professor Nassim Taleb, the author of “The Black Swan,” is worried that the Occupy Wall Street movement taking place in Manhattan’s Financial District and across the country will turn into class warfare.[via ampedstatus.org]”The Occupy Wall Street — they don’t have a message,” Taleb told Bloomberg Television. “I’m extremely, extremely worried about the thing degenerating into class warfare.”
Taleb said this has the potential to be a second generation Marxist movement.
However, he does have a prescription for the protesters to fix the problem. UPDATE: He just wrote more about the below in an op-ed for the New York Times:
“The problem with Wall Street is a very simple problem with symmetry and compensation,” he said. “The only valuable information in a Bank earnings report, is how much they pay themselves…”
“It is a compensation scheme and nothing else…”
He thinks the bankers, who he says are “not smart” and “hijacked the American economy,” should not have received $2.2 trillion bonus payouts they did.
“Unfortunately, we don’t have claw backs in the U.S,” he said.
He thinks it maybe to too late. “It worries me. It may be insufficient,” he said.
Via Max Keiser
Watch the full interview here:
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