Monday, December 21, 2009

Razib on the bail-outs:
The financial sector is systemically important for a healthy economy. But a sense of virtue is systematically important for a healthy society. Bailing out the former has resulted in pulling the rug out from one of the perceptions which has buttressed the latter; that those who do well do so because they do good.

Related: The Harvard-Goldman Filter. We'd have a different country if it was the MIT/Stanford-Google/Intel filter.

Also related: bailing out AIG was really about bailing out Goldman and some big European banks.

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