'..One of the reasons this mess is so big is the repetitive moral-hazard bailouts of the financial sector by central banks and governments.'<blockquote>'..It is also about the need to allow banks to fail. Let that happen, punish the bondholders, and kill fractional reserve lending and the situation will take care of itself.
..
There should not be a salvation plan for anyone, not just banks. One of the reasons this mess is so big is the repetitive moral-hazard bailouts of the financial sector by central banks and governments.'
- Mike "Mish" Shedlock,
54% of Germans Believe Further Bailouts Pointless; 160 German Economists Denounce Summit Results; Fourth Front Against Merkel, July 07, 2012</blockquote>
Context<blockquote>
Trying to Stay Focused on the Big Picture - By Doug Noland'..Draghi's money. It covers up problems..' - inflationism .. intervention, obfuscation, rationalization and degradation..'</blockquote>