As former Fed Governer William Pool confessed after leaving

post,

each time you pump moral hazard to enhance stability, you need to pump more next time for bigger crisis. If pople lost 401K, so be it. Because it doesn't make sense at first place. Why did everyone count their assets based on closing prices of a basket of securities, or next door house just sold? If people don't lose them now, they will lose more in the future. Because they will never take risk seriously. As Jimmy said, in 1966, the entire finaical system of Japan went bankrupt, so what? But when government try to fix the problem in 1990, they are still fixing it today.

所有跟帖： 

• :) Japanese lost so much money in stock market, -山高月小- ♂ (132 bytes) () 03/18/2008 postreply 14:36:34

• When this game is over, american is going to lose everything -Aceofspades- ♀ (325 bytes) () 03/18/2008 postreply 14:48:01

• I feel they are overly cautious now. Even if I put down 50% -729418- ♀ (43 bytes) () 03/18/2008 postreply 14:56:52