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Americans For Prosperity

Is Medicare ‘Too Big to Fail’?

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Unread 11.23.09, 09:44 PM
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Is Medicare ‘Too Big to Fail’?

11.23.09 11:36 AM

During the financial disaster on Wall Street a year ago, politicians, economists, and pundits became obsessed with the term “moral hazard,” which occurs when a person, corporation, or other entity makes riskier choices because the consequences have been artificially manipulated. The Wall Street bailout created a moral hazard because it shielded financial institutions from the consequences of their actions. If a corporation knows it would be rescued by the government after making bad decisions, it has fewer incentives to change behavior or learn from mistakes.

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http://www.americansforprosperity.or...-fail%E2%80%99
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