I'd be for that up to a point, but if we had a choice between bail out and ownership, ownership's probably better. The problem is, is they can't keep their promise to not bail out other part, then that's the problem. And i very surprised that in all this argument in washington, nobody spoke about the role of regulation in bringing this crisis. Crisis was caused by regulators. E regulators helped rading agencie spread the ratings. I think vincent ans could not, could not hold the segments of the portfolios in some categories. What else?
Nassim Taleb talks with EconTalk host Russ Roberts about the financial crisis, how we misunderstand rare events, the fragility of the banking system, the moral hazard of government bailouts, the unprecedented nature of really, really bad events, the contribution of human psychology to misinterpreting probability and the dangers of hubris. The conversation closes with a discussion of religion and probability.