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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: maceng2 who wrote (401069)2/14/2010 7:37:27 AM
From: Real Man  Read Replies (1) of 436258
 
That sure has become the topic of mainstream media these days.
The govt. acts as a firefighter in order to prevent the fire
of creative destruction in a crisis from burning down the
entire house. This solution is far from ideal, nor is it
free from "moral hazard", but it appears so far the
firefighters did not invent anything else? It will be more
costly to taxpayers if WS goes, so they bail them out.
The same applies to countries. Why should Germany bail out
Greece, or US bail out Mexico? If Greece goes, it will be more
costly for Germany than to just bail them out. So it goes,
they bail everyone out, then overregulate when things are back to
norm. That second part was omitted (to say politely), or,
to say more honestly, used in the other direction,
during AG rule at the Fed.
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