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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: BGR who wrote (71618)	12/9/1999 9:41:00 AM
From: Mike M2	Read Replies (2) \| Respond to of 132070

BGR, what about the moral hazard created by bailing out institutions who behave recklessly? tough love encourages prudent risk taking bail outs result in reckless lending because the adverse consequences are avoided. Mike

To: BGR who wrote (71618)	12/9/1999 10:01:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

BGR, that post is a classic. Tell me in your opinion is it ever possible to have excess debt? Can we borrow our way to prosperity? Mike

To: BGR who wrote (71618)	12/9/1999 10:24:00 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

BGR, Greenboy may have done the right thing last year during the credit market collapse, but he did the wrong thing in allowing it to develop in the first place. The timing of his actions (options expiration) also leads one to believe that they were specifically designed to help financial institutions that were holding losses at the expense of the people on the other side of those trades. That was blatant wealth transfer if true. Both common sense and the whispers from Wall St. say that is the case. There is no doubt that this sort of stuff encourages further recklessness by Wall St. that ultimately comes out of the hide of taxpayers either directly (bailouts) or indirectly. I can't imagine how anyone but Wall St. could think this is a good arrangement for the general public. Wayne