Moral Hazard

Just this A.M., I was wondering about moral hazard: Aristotle? Heidegger? Rorty? Apparently none of the above. The insurance and bail-out industry according to David Leonhardt. Here in admirably brief compass: http://www.nytimes.com/2008/03/18/business/18hazard.html?_r=1&scp=2&sq=David+Leonhardt&st=nyt&oref=sloginAnd here the moral drama ("How the Mighty Are Pulled Down when Falling) with details about the fall of Bear Sterns; this bail out sounds more like a warning to all of Wall Street than a bail out.http://dealbook.blogs.nytimes.com/2008/03/18/saving-wall-st-for-now/Hoping none of us had money in Bear Stearns (but how would we know?)!

Margaret O’Brien Steinfels is a former editor of Commonweal. 

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