dwalton

The Moral Hazard of Creditors

For over a century U.S. financiers have been progressively instituting and expanding the concept of limited liability to every facet of the economy in order to promote the increase of their wealth. One only has to look at society's acceptance of the modern corporation for proof. The recent actions we've seen demonstrated by the Fed are just new branches of the same old tree.

Risks are inherent to our world. God has built them into every facet of life as a means of benevolently restraining the wicked actions of wicked men. What risks we remove without considering this, we ultimately remove to our demise.