#socially — Public Fediverse posts

Good Riddance #Greenspan
"Greenspan ushered in te widespread use of #derivatives which r used almost entirely for #speculation, thus divert'g resources & “talent” into #socially #destructive activity..🤦‍♂️ Greenspan's too much a free mkts true believer to even consider tt #markets hv a propensity to generate #bubbles & manias since they're highly profitable to intermediaries as they build up, plus insiders often manage to escape losses when they implode, or believe they can"
https://www.nakedcapitalism.com/2026/06/good-riddance-alan-greenspan.html

Less-than-truckload shipping operator Yellow has folded after attempts to make their workforce take a poison pill so that the company could keep staggering on into ruin failed. The #Teamsters have asserted that #Yellow was catastrophically #mismanaged. Other sources say that Yellow's problem was that it was so heavily #leveraged that it couldn't get out from under the debt it had been loaded up with. There's probably truth in both.

FAR TOO MUCH of the modern #business #management world is based on the premise that it's absolutely fine to burn the entire neighborhood down, as long as you stole all the valuables first. Buy up a company to strip its assets and load it up with all of your debt, then walk away. In #MBA world, this is FINE. The lives you destroy don't matter because they're not real people.

I assert once again that the #Harvard School of Business (and its clones throughout the rest of the Ivy League) and its theory of bottom-line management are among the most long-term destructive things to have ever happened to not merely US business, but to the entire US, both #economically and #socially.