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This is amazing, but frankly, somewhat apt. Moral hazard has become a serious threat to the economy. Big banks have not learned their lessons, nor are they making loans that the government erroneously expected them to. Now we’ve double downed on an auto industry that is still fundamentally unsustainable. All the bailout dollars would have been better spent re-conceptualizing the social safety net to allow people to lose jobs that don’t make sense (and in many cases, will never make sense) and have a chance to create new jobs that do.
