Leituras Recomendadas:Beware moral hazard fundamentalists, por Larry Summers«Central to every policy discussion in response to a financial crisis or the prospect of a crisis is the concept of moral hazard. Unfortunately, there is great confusion in many quarters about the circumstances when moral hazard is, and is not, a problem. The world has at least as much to fear from a moral hazard fundamentalism that precludes actions that would enhance confidence and stability as it does from moral hazard itself(...)»Moral hazard misconception, por Ricardo Caballero«(...)Moreover, Martin’s claim that supporting shareholders would undermine capitalism by removing (negative) risk from equity investment is not tenable in the current context. Many of the old-capital shareholders have lost over 90 percent of their initial investments, and hence have already experienced risk at its worst.»
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Leituras Recomendadas:Beware moral hazard fundamentalists, por Larry Summers«Central to every policy discussion in response to a financial crisis or the prospect of a crisis is the concept of moral hazard. Unfortunately, there is great confusion in many quarters about the circumstances when moral hazard is, and is not, a problem. The world has at least as much to fear from a moral hazard fundamentalism that precludes actions that would enhance confidence and stability as it does from moral hazard itself(...)»Moral hazard misconception, por Ricardo Caballero«(...)Moreover, Martin’s claim that supporting shareholders would undermine capitalism by removing (negative) risk from equity investment is not tenable in the current context. Many of the old-capital shareholders have lost over 90 percent of their initial investments, and hence have already experienced risk at its worst.»