Since risky investments usually pay more than safer investments, the incentive is for a government-supported enterprise to take bigger risks, since they get more profit if the risks pay off and the taxpayers get stuck with the losses if not.
Thomas Sowell, “Bailout Politics,” September 30, 2008.
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Thomas Sowell
1 reply on “Thomas Sowell”
Other peoples money… What a great way to pay ones debts…