HOUSE FINANCIAL Services Committee Chairman Barney Frank (D-Mass.) has acutely summarized both the "systemic risk" posed by the housing market's decline and the "moral hazard" posed by a government fix: "The economy has been taken hostage by people that took some very bad decisions," Mr. Frank sa...
Holes in the Roof
HOUSE FINANCIAL Services Committee Chairman Barney Frank (D-Mass.) has acutely summarized both the "systemic risk" posed by the housing market's decline and the "moral hazard" posed by a government fix: "The economy has been taken hostage by people that took some very bad decisions," Mr. Frank sa...