Day

September 27, 2008

Moral Hazard, illustrated

Wall Street Bailout Bill:Trickle-down Financial Aid? As the lead in the movie “Knocked Up” might say, “Moral Hazard, shmoral hazard.” If you’ve been befuddled by the term — and seem to be hearing it bantered about lately, in connection with the Wall St. bailout — think of it this way: Imagine that, instead of giving...
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