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Originally Posted by loquitur
I'm with you that losses by people who took risks and lost shouldn't be socialized. That's what we have bankruptcy laws for.
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On the scale we're talking, I don't think that level of laissez-faire can work. Smacks of schadenfreude, but with far reaching and unpredictable effects...
One can only say that the laissex-faire solution to the '29 crash didn't work out too well.
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"I do not agree that the dog in a manger has the final right to the manger even though he may have lain there for a very long time. I do not admit that right. I do not admit for instance, that a great wrong has been done to the Red Indians of America or the black people of Australia. I do not admit that a wrong has been done to these people by the fact that a stronger race, a higher-grade race, a more worldly wise race to put it that way, has come in and taken their place." - Winston Churchill, 1937 --{ORLY?}--
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