Monday, August 06, 2007


A reasoned argument...


At Monday, August 6, 2007 6:56:00 PM CDT, Blogger cljo said...

"Wah wah wah. My buddies and I gave away houses to people who couldn't afford them and now they can't pay. Help me, Ben Bernake!"

Sorry Cramer. You (your buddies) took a bad risk and ran some untested schemes. You got burned. Ben IS an academic and that means he knows all about moral hazard in financial markets. You lose.


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