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Does Moral Hazard Exist in the Banking System? . . . Who Picks Winners and Losers in the Financial World? . . . Will This Time Be Different?
Manage episode 363258777 series 3392534
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The Omaha Bugle broadcast considers whether the concept of moral hazard exists in an age where the federal government seems hell-bent on rescuing every bank from every self-inflicted wound. Adam and Jeff wonder who decides which banks survive and which banks are allowed to go out of business. They are surprised that the people in power at both the banks and the federal government invariably forget about the circumstances that led to the previous banking crisis. They are also shocked that such smart people seem to do such stupid things in terms of bank management over and over again. Adam and Jeff conclude that they should open up the Omaha Bugle Bank because they could not do any worse than the credentialed "geniuses" who have managed to destroy trillions of dollars of shareholder value in numerous failed banking ventures over the past few decades.
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