http://www.concurringopinions.com/archives/2008/03/where_socialism.html The Law, the Universe, and Everything Sun, 22 Nov 2009 04:22:46 -0700 http://wordpress.org/?v=2.8.3 hourly 1 http://www.concurringopinions.com/archives/2008/03/where_socialism.html/comment-page-1#comment-49824 Nate Oman Fri, 21 Mar 2008 18:39:25 +0000 http://www.solove.org/archives/2008/03/reverse-robin-hood-the-30-billion-question.html#comment-49824 Frank: I agree with you that the U.S. government's willingness to bail out wealthy and sophisticated investors that make bad bets creates big moral hazard problems. On the other hand, I fail to see how a wholesale government subsidy of bad investments is an example of "market fundamentalism." Being pro-market and being "pro-business" is not always that same thing. I also fail to see why condemning policies that allow investors to avoid the downside of bad risks justifies some sort of disgorgement of profits on the upside. Market fundamentalism, it would seem to me, would imply that we let investors take risk as they see fit, allow them the benefit of the upside and leave them with the loss on the downside. Frank: I agree with you that the U.S. government’s willingness to bail out wealthy and sophisticated investors that make bad bets creates big moral hazard problems. On the other hand, I fail to see how a wholesale government subsidy of bad investments is an example of “market fundamentalism.” Being pro-market and being “pro-business” is not always that same thing. I also fail to see why condemning policies that allow investors to avoid the downside of bad risks justifies some sort of disgorgement of profits on the upside. Market fundamentalism, it would seem to me, would imply that we let investors take risk as they see fit, allow them the benefit of the upside and leave them with the loss on the downside.

]]> http://www.concurringopinions.com/archives/2008/03/where_socialism.html/comment-page-1#comment-49823 Joe Blow Fri, 21 Mar 2008 17:32:38 +0000 http://www.solove.org/archives/2008/03/reverse-robin-hood-the-30-billion-question.html#comment-49823 Yeah, the federal government is really stepping in here and letting these guys off easy. It's not like all these executives lost a large portion of their wealth when the stock went in the toilet or anything. Yeah, the federal government is really stepping in here and letting these guys off easy. It’s not like all these executives lost a large portion of their wealth when the stock went in the toilet or anything.

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