The Libertarian and the Lobbyists

Orsakerna till finanskrisen anser jag i princip vara klarlagda. Men de vars hela världsbild rämnar om de har fel kan man knappast klandra om de fortsätter att dra sitt ärtrör mot väderkvarnarna.

Simon Johnson har en läsvärd artikel på Project Syndicate om relationen mellan lobbyister, politiker och Wall Street.

”Essentially, financial firms have been buying the right to take on more risk. When things go well, executives in these firms get the upside – mostly in terms of immediate compensation, because few executives are compensated on the basis of risk-adjusted returns. That means that when the risks materialize and the firms suffer losses, the costs fall on taxpayers.”

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