If you’ve not read Daniel Henninger’s column in the October 2, 2008 edition of The Wall Street Journal, I encourage you to.  In this column, Mr. Henninger defines the term “moral hazard”, particularly as it relates to Wall Street, Fannie Mae and Freddie Mac, and Congress.  He writes:
Borrowers across America took a dive for low- [...]

As more than a casual observer of the recent economic and business events of the last two weekends, it occurs to me that the age-old adage “Pigs get fat, hogs get slaughtered” applies here.  It is truly regrettable that such venerable institutions as Bear Stearns, Merrill Lynch, and Lehman Brothers are no more.  Thousands of [...]