It used to be all the rage in Get-Rich-Quick circles. OPM stood for Other People's Money. Borrowing was the way to unimagined wealth. If you could attract investment, that was okay, but giving up control and even a portion of ownership was against the entrepreneurial spirit.

Borrowing was actually using OPM when you intended on going bankrupt or leaving town in the dead of night in the event things went sour. Paying the money back pretty much meant you were using your own money. Going under carried with it a series of hardships most folks would rather avoid.

As risk taking proved, well, risky, using OPM began to fall by the wayside. Fantasies tumbled like the walls of Jericho in the face of often harsh reality. Risk was often worth taking, but a hard, hard look was just plain prudent before an impulsive leap.

OPM got a little less tricky for banks. As regulations eased, and what remained was enforced reluctantly by the conservatives who were in political ascendancy at the time, banks began to take risks with the money depositors had entrusted to their care. After all, the money was insured, so nobody would get hurt in the event of failure.

It was called Proprietary Trading. It may seem wrong to many of us that someone in a position of trust could make huge profits with no risk, but it was happening. There are current moves to outlaw the practice, but Republicans are said to be skeptical and the process is slow.

It should not surprise us that enforcement was lax during the Bush administration. Although much of what went on was criminal and people went to jail, most of the damage was completely above board. If I want to impress important guests with a fabulously catered dinner, I am not likely to hire a vegetarian to cook the steaks. Turning government protection of consumers and taxpayers over to honest folks who simply believe regulation to be inherently evil was asking for trouble.

Republicans are emboldened by polls and a stunning election victory in Massachusetts. Their latest thrust involves a plan to bring back an old idea. Republicans say they want to privatize Social Security and replace Medicare with a system of vouchers. Market forces are inherently good, and if people wanting to retire or who are in poor health are given the right incentives, they will profit on the one hand from making really good bets with their Social Security benefits, and they'll save on the other by making those hard choices before going forward with medical expenses and costly prescriptions.

Society at large will get rich quick. It's OPR and OPH. Other People's Health is okay to risk. Other People's Retirement, too.

Just don't let either be mine.

I could list a hundred reasons why privatizing the TSA and holding individual airlines wholly accountable for their own security would be advantageous from the consumer’s standpoint...

 - - Conservative J.E. Tabler, at David Horowitz's Newsreal, January 11, 2010
     On Privatizing the Transportation Safety Administration