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I agree regarding the banking crisis, and particularly the case of Iceland.  But I just wondered if Chris meant to make a general statement about socialization of losses, period, or if it was particular to the discussion of Iceland or the financial crisis.
by santiago on Mon Aug 17th, 2009 at 04:34:59 PM EST
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Socialisation of losses is fine within the right framework, I think.

To me, that means that whoever receives some sort of public guarantee, limitation of liability, or insurance, should actually pay something for it, if they are able.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Mon Aug 17th, 2009 at 05:59:32 PM EST
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