Link To Full Story: freakonomics.blogs.nytimes.com
HatTip to Dave Lull
“The captain goes down with the ship…”
Time to realize that capitalism is not about free options. The captain goes down with the ship — all captains and all ships — making everyone involved in risk-bearing accountable, no exception, none. Morally, legally, whatever can be done. That includes the Nobel (Bank of Sweden), the academic establishment, the rating agencies, forecasters, bank managers, etc.