Robert (gurdonark) wrote,

regarding a change

“We have little doubt that in many cases the motivation of regulators has been a fervent desire to preserve market stability and avoid tumultuous disruptions and systemic risk. To that end, such motives are commendable. Yet the fact remains that these massive federal bailouts have exposed taxpayers to literally tens of billions of dollars of new risk, diluted the incentive for the private sector to make the difficult but necessary decisions to address its fiscal problems, and created a sizable moral hazard where companies are absolved, not punished, for excessive risk taking.”--Jeb Hensarling, Republican member of the House of Representatives

I may not see the remedies as the same as Mr. Hensarling. I believe that government action has been required to deal with the consequences of eight years of poor fiscal policy and poor regulation. Yet I cannot help but feel a surge of pride in our country when even a Congressman from the party I do not support is finally willing to recognize the moral dilemmae and potential financial risk we all face in this curious economic time, as a result of choices being made by the executive branch of his own party.

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