Tuesday, October 21, 2008

The Economic Crisis: Two Views

"Mr. Paulson argues that the approach [to the bailouts] combines pragmatism with an intense focus on moral hazard, or letting people pay for failure. 'I don't believe in raw capitalism without regulation. There's got to be a balance between market discipline, allowing people to take losses, and protecting the system,' he says."
The Economist, Sept. 20th 2008

"Why aren't we acting like those Wall Street guys are just out-of-their-minds addicts? I feel like the brother with the straight job, and you're a guy who hangs out at the track. I just wanna know this, of the 700 Billion we gotta chip in, how much is going to hookers?"
Ron Bennington

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