The thesis was "We all have solutions, but we all hit that 'third rail of moral hazard' ".
I wonder(I don't actually); We are all in a boat, and it's Leaking. Many of us had a hand in putting the hole in the boat. Here we are, arguing about who we should let drown.
Maybe that is the problem, Instead of fixing the hole. We bicker about who should be punished for putting the hole in the boat. Obsessed with Moral Hazard.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Monday, March 9, 2009
Power lunch discussion
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