Thursday, December 3, 2009
Bunning to Bernanke: "You are the definition of Moral Hazard!"
"Rather than making management, shareholders, and debt holders feel the consequences of their risk-taking, you bailed them out. In short, you are the definition of moral hazard...
In the same letter where you refused to admit any responsibility for inflating the housing bubble, you also admitted that you do not have an exit strategy for all the money you have printed and securities you have bought. That sounds to me like you intend to keep propping up the banks for as long as they want.
Posted by Palmoni at 4:57 PM