Securing the Risk

If you recall, the financial crisis that precipitated the Great Recession was all about securitizing the debt, and still is.

Securitizing the debt by consolidating the function of commercial banking, investment banking, and insurance, which Glass-Steagall prohibited following the Great Depression, produced toxic assets that nobody wanted to buy. Subsequently, to prevent the collapse of the financial system (the Hamiltonian model of welfare for the rich in priority, or trickle-down economics, which is considered to be the best way to produce things by default), the Fed bought the toxic “assets.” (The asset value–the security “derived”–is the coercive power of these assets in the form of an overwhelming liability, which is the gamma-risk dimension). Effectively, this act of not reducing the risk but securing it (holding it in reserve) protects the capital from realizing its actual identity now (transferring “the real risk” to the future); essentially conserving its natural identity (as Ayn Rand described it) in the form of who actually owns it and thus possesses the natural right to determine its use value now.

Determination of its use value is the proprietary risk. Financiers refer to this as the Delta risk, which refers to the regression of the probabilities by averaging the sum of the results (what actually happens) occupying space over time.

Securitization is, of course, all about security, and for capitalism it is all about securing the “proper” (natural) distribution of risk and reward (the occupation of political space over time). The distribution affects the interpretation of what the risk is and thus transacts as a normal distribution which (when measured over time) tends to always form a bell-shaped curve (kurtosis). The question is whether the curve should render normal now or later.

Sanders says it should render now. Clinton says later.

So, whose political program do YOU want occupying YOUR space!

Who more properly owns your space than YOU! There really is no “alienation.” The value is naturally integral–holistic–always now, actualized on demand with propriety, having the measurable value of self-possession that is the act of self-determination.

It is what it means to be independent, like Sanders (and the free little bird, by the way, that coincidentally showed up at a rally to give it a naturally random interpretation).


About griffithlighton

musician-composer, artist, writer, philosopher and political economist (M.A.)
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