The Power of Moral Hazard

For several days afterward, that phrase kept resonating in my head. Surely one has to pay one's debts. This was the kind of line that could make terrible things appear utterly bland and unremarkable. It may sound strong, but it's hard not to feel strongly about such matters once you've witnessed the effects. For almost two years, i had lived in the highlands of madagascar. I met young mothers grieving for lost children. One might think it would be hard to make a case that the loss of ten thousand human lives is really justified in order to ensure that city bank wouldn't have to cut its losses on one irresponsible loan That wasn't particularly important to its balance sheet anyway