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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: gpowell who wrote (54091)2/17/2006 1:12:37 PM
From: mishedlo  Read Replies (1) of 110194
 
The very worst thing a government can do is to impede this process by guaranteeing the public and a bank against loss, as it is my contention that through the management of moral hazard, a profit-seeking bank facilitates economic growth precisely because it can better manage risk, i.e. allow greater risk to be taken. Any implicit and explicit guarantees increase risk without an expectation of greater profit, i.e. creates "unbounded instability" with zero or negative expected growth.

You would abolish the FDIC?

Mish
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