Skip to comments.Moral hazards and managing risk...
Posted on 06/05/2010 9:30:21 PM PDT by dleach
While listening to Obama's discussion with the press about BP and the oil spill one part of what he said stood out to me.
The money quote is:
"Given the fact they (BP) didn't fully account for the risks I don't want someone else bearing the costs of those risks that they took."My immediate response to that statement was "then why the hell are we, the American taxpayer, bearing the costs of bailing out all of these different companies who didn't manage their risks?"
(Excerpt) Read more at blogsplurt.com ...
Obama’s an idiot.
This isn’t exactly about Obama... There are a lot in government that facilitate the moral hazards many of our companies follow.