A risk-free revolution
The US Federal Reserve-led rescue of Bear Stearns was a blatant example of moral hazard being rewarded. The US financial system, thought to be exemplified by rough and ready individualists and free marketers, now gleefully accepts the greatest government intervention in the financial markets in at least 70 years. One question - what comes next in this new risk-free model? - Julian Delasantellis
http://www.atimes.com/atimes/Global_Economy/JD02Dj08.html
Reflections from news and commentary of the day
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