This weekend I was watching one of my favorite cable programs, Real Time with Bill Maher, and was fascinated by his guest, Matt Taibbi, who had recently published an article in Rolling Stone Magazine. I went to my computer and found the article online.
Wow! I am planning to use it in the Money and Banking class I teach next month! So many questions are raised about moral hazzard, private incentives and of course regulation of the banking industry.
After reading this article, I find that being pro-regulation is not enough. Where do we find effective regulators who will not be seduced by those private incentives?
Is it more understandable why Elizabeth Warren is reluctant to be "vetted" for the top job at the new Consumer Financial Protection Bureau?
Do we all have a price? What is it?
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