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: 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. 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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