One of the quite reasonable fears about government bailouts is that they encourage moral hazard. Why not engage in risky behavior if there are no consequences? Yet, as the government spends hundreds of billions to bail out some awesomely stupid activities, all signs point the other way.
Reckless behavior has almost disappeared from the financial landscape, sure. But so has a lot of reasonable behavior. And this may create a massive problem. What if, as conditions worsen, reasonable risk-taking totally disappears? What if we're transformed from a nation of risk-takers into a nation of wussies?
Anderson Cooper goes beyond the headlines to tell stories from many points of view, so you can make up your own mind about the news. Tune in weeknights at 8 and 10 ET on CNN.
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