If I can borrow a house and live in it and get bailed out in the ensuing default storm, I win.
If I build my house in an area prone to flooding and can get bailed out, I win.
If I can originate a gazillion loans at a fee and without repercussions for defaults, I win.
If I can run a company into the ground while getting nice perks and a salary without any repercussions, I win.
If I can get elected to high office through lies or distortions or conduct my term in an incompetent or questionable or criminal fashion and leave the mess for the next office holder, I win.
Welcome to capitalism, now increasingly featuring socialized risk.
And with the recent discovery of Too Big To Fail, this form of capitalism just gets better.
If I can borrow a house and live in it and get bailed out in the ensuing default storm, I win.
If I build my house in an area prone to flooding and can get bailed out, I win.
If I can originate a gazillion loans at a fee and without repercussions for defaults, I win.
If I can run a company into the ground while getting nice perks and a salary without any repercussions, I win.
If I can get elected to high office through lies or distortions or conduct my term in an incompetent or questionable or criminal fashion and leave the mess for the next office holder, I win.
Welcome to capitalism, now increasingly featuring socialized risk.
And with the recent discovery of Too Big To Fail, this form of capitalism just gets better.