Moral Hazard & Risky Precedents

Saturday, July 19, 2008 | 07:30 AM

Excellent discussion from PBS News Hour, on Moral Hazard:
click for video


Bailout of Mortgage Firms Could Set Risky Precedent  (Transcript)
July 18, 2008

Audio Recording


Saturday, July 19, 2008 | 07:30 AM | Permalink | Comments (13) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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This Solomon fellow has always done great stuff.
Lately I keep wondering what the "new" America will look like.

Will average Americans, for example, become models of thrift, building up nest eggs of conservatively invested spendola? (I'd like to think so but I suspect they've forgotten how and why to do this.)

Will American business rise again to tower over or at least stand shoulder to shoulder with the BRICs etc? Will the innovative American spirit, coupled with those deep pools of capital, rise up again and build real wealth through steady hard work and honest investing for the long-term? Or will this absurd get-rich-quick bubble-seeking mentality, aided by "innovative" financing, characterize the sunset years of the US?

Seems to me many of the rich in America confuse their good fortune with evidence of their intelligence which in turn morphs into an unattractive "I deserve all this, I'm different and special" attitude. The less well-to-do slave at jobs with little hope of moving up and are told to "just keep going to the mall and all will be well". I wouldn't necessarily call this arrangement immoral but it looks pretty hazardous to me.

Posted by: Arthur | Jul 19, 2008 9:55:41 AM

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