Is there Any Such Thing as Systemic Risk?

Here are my two shots from TechTicker yesterday:

Why Geithner’s Bank Fix Will Fail

Analyst: “Nationalization” of Citi and BofA Inevitable in ’09

I think there are two issues regarding the financial bailout: First, is what we are doing effective?  Two, are we adding to “perceived” systemic risk or reducing it with our actions?

And the question of the week: Is there Any Such Thing as Systemic Risk?

And if there is, where does she live?

As I noted in the second shot, there is no such thing as systemic risk, IMHO.  Just a way for politicians in Washington to push the statist agenda and turn us all into slaves, to wit:

“You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that, my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it.”

The late Dr. Adrian Rogers

Thanks to Gerry for the quote.



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