I'm glad someone is pointing this out...

If we've learned anything about our economy with this past bust it'd be the realization the mild regulation keeps us from major catastrophe's. Jared Bernstein is one economist who will point that out to us...

Speaking of pricing risk, yes, moral hazard is a big problem that contributes to the underpricing of risk (which, at some level, is the main factor behind all the bad stuff that's happening now). But the time to worry about moral hazard is not the weekend when the big bank is failing. It's years before, when you're setting up the regulations under which the financial system can flourish without going off the rails.

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Jim Nichols
A Speculative Fictionwww.JimNichols4.com