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Dave Cohen

Yes, Bill, it's all reward with no risk, aka. moral hazard.

How thick, dense, obtuse are people to not see what's going on here?

Yet I still see "concerned citizens" on "liberal" blogs like Naked Capitalism or Baseline Scenario argue that if only this would happen or that would happen, everything would turn out OK. They're never too specific about the details of exactly how "this" or "that" might come about.

Hopey-Changey, who they all voted for, appointed the SEC regulators I castigated today, and defends their "inability" (unwillingness) to prevent or prosecute fraud. See that Matt Taibbi post I cited in the text.

Logically speaking, these always hopeful people live in a Counter-Factual World (if only this would happen...)

I prefer to live in the Real World. I recommend that others do the same.

-- Dave

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