October 27, 2009

Central Banks Are a Hazard to the Banks

Terence Corcoran, National Post

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Bank of Canada Governor Mark Carney, joining central bankers everywhere with new details of their jargon-filled plans to flood the world with more jargon, declared yesterday in Montreal that "we are awash in moral hazard. If left unchecked, this will distort private behavior and inflate public costs." True enough, but can you guess where the moral hazard came from -- and who's doing the...

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TAGGED: Ben Bernanke, The Fed, Federal Reserve, Terence Corcoran

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