Evidence that Adani Group has engaged in stock manipulation and accounting fraud

Post by fastball » Thu, Jan 26, 2023, 5:02 PM UTC

howinteresting wrote: post #210

fastball wrote: post #207

Earlier quoted context omitted.

What exactly are you objecting to when it comes to billionaires, though? The nominal wealth? The relative wealth? Whichever metric, where is the point where it goes into "immoral" territory and what is the justification for choosing that point over another?

I'm objecting to the idea, ethically, that a single person can own so much money. 1 billion is far beyond what anyone needs to have a comfortable life. Whatever the line is, 1 billion is clearly on the other side of it. I'm not interested in sorites paradox-ing the question beyond that.

Post by mansoor_ » Thu, Jan 26, 2023, 6:35 PM UTC

Post by howinteresting » Thu, Jan 26, 2023, 6:48 PM UTC

fastball wrote: post #211

howinteresting wrote: post #210

Earlier quoted context omitted.

I'm objecting to the idea, ethically, that a single person can own so much money. 1 billion is far beyond what anyone needs to have a comfortable life. Whatever the line is, 1 billion is clearly on the other side of it. I'm not interested in sorites paradox-ing the question beyond that.

That's alright because most billionaires don't have that much money, they have wealth, which isn't really the same. Also there's probably lots of billionaires here in Indonesia, where 1B IDR is only $67k USD. Do you object to Indonesian billionaires as well? Or does it only matter if you're a billionaire in USD? What if I'm a billionaire in GBP? Do you really believe that everyone on earth should only be allowed to h…

Post by marcopicentini » Fri, Jan 27, 2023, 12:07 PM UTC

skizm wrote: post #68

If these companies assets or stocks go to zero or are locked due to fraud or something that makes the actual public stocks untradable, how do you get out of a short position? Borrowing and selling the stock means you can’t get it back to return to the original owner, and buying put options means you can’t sell the stock to the contract holder. Do you have to get out before it gets completely vaporized?

Post by safog » Fri, Jan 27, 2023, 2:51 PM UTC

vishnugupta wrote: post #96

HWR_14 wrote: post #65

Earlier quoted context omitted.

I don't understand why any entity is "too big to fail".

My understanding is that if an entity going down results in a widespread wealth destruction in the entire domain then it's deemed to be too-big-to-fail. It would in turn lead to social unrest threatening the stability of government. Like a huge lender going bust would lead to credit shrinkage leading to millions of small/medium businesses going bust.