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Non-Tech : The Enron Scandal - Unmoderated
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To: Original Mad Dog who wrote (197)1/15/2002 4:41:24 PM
From: jcky  Read Replies (2) of 3602
 
Hi MadDog,

Long time no post. It's good to see you again.

What has bothered me the most about the Enron debacle is that taxpayers may end up footing the bill, again, to bail out another failing business. It happened with the saving and loan industry. The airline industry just received another reprieve post September 11 for their negligent conduct in providing airline security.

It's really quite a moral dilemma. If the government and taxpayers continue to provide a free insurance policy for businesses which choose to conduct risky practices at the expense of taxpayers, this creates a milieu, whereby, riskier behavior is encouraged. After all, there is little negative consequences to follow. It's really quite a moral hazard.
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