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The problem is we collectively employ the logic of "punish them or subsidize them with bail outs". A free market, without a lender of last resort or FDIC, will
by CryptoPunk 8y ago
The problem is we collectively employ the logic of "punish them or subsidize them with bail outs". A free market, without a lender of last resort or FDIC, will effectively punish those responsible for financial crises.