[proxy_user]

Our system is so large, everyone is scratching his head trying to figure out what is going on.

Suppose, for example, that we discovered CitiCorp controls vast stretches of the economy. OK, they have 300,000 employees at that place. So who exactly is in charge? It doesn’t seem like the officially designated top management has a clue about half of what goes on there. The stockholders? They know nothing.

[Grampa Dave]

For those who might not believe that Citi Group has 300,000 employees: http://www.smartmoney.com/breaking-news/smw/?story=20081114085945 "Citi to Cut 50,000 Jobs, Hike Credit Card Rates NEW YORK (Dow Jones) -- Citigroup Inc. (C) will announce job cuts of up to 50,000 through attrition and layoffs as Chief Executive Vikram Pandit addresses employees in a town hall-style meeting Monday morning, according to reports. Fox Business Network said it had a copy of the slide presentation Pandit is showing employees. According to the presentation, the number of Citigroup employees would be cut from 350,000 to 300,000."

[HangnJudge]

Our system is so large, everyone is scratching his head
trying to figure out what is going on.

The “value” of an equity, in an efficient market
is defined precisely as
half the money thinking it will go up
half the money thinking it will go down

the people pushing the money around are not stupid
but the decision paradigm they use may be “not obvious”