Jan 12 2010
Econ 101: Moral Hazard and How Government Policies Encourage Foolish Behavior
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Via Daniel J. Mitchell, Nicki Kurokawa, a former Cato employee, explains “moral hazard,” and notes that government-subsidized risk played a pernicious role in the housing bubble and financial crisis, and warns that “too big to fail” may create similar problems in the future. Someone needs to send this video to Barack Obama, Timothy Geithner, Harry Reid, Nancy Pelosi, Barney Frank, and Chris Dodd, and etc…, and the other Democrats in Congress that just don’t get it:
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