Tah-Dah!

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I've been predicting a government bailout of US automakers for some months now.  Indeed, I bought bonds on the premise that this would be the likely outcome if things became bad; i.e. government action induced me to assume abnormally large risk.  Moral hazard exists, and government intervention makes it worse.  QED.

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This page contains a single entry by Adam Anderson published on October 28, 2008 1:50 PM.

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