Financial Russian Roulette

Paul Krugman on today’s Wall Street news:

For example, today much of the Fedโ€™s portfolio is tied up in loans backed by dubious collateral. Also, officials are worried that their rescue efforts will encourage even more risky behavior in the future. After all, itโ€™s starting to look as if the rule is heads you win, tails the taxpayers lose.

โ˜… Monday, 15 September 2008

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