Carney re Moral Hazard

Mark Carney (Bank of Canada Governor) tells us that we are awash in “Moral Hazard”.

Words well chosen.

In my book entitled November Years I expressed my opinion that integrity had somehow suddenly evaporated. Carney came from Goldman Sachs. That gave him a front row seat as our wonderful world ran aground.

Morality? Integrity? These words are history. Their very meaning has been lost. The grease that lubed the wheels of finance and freedom – gone.

Moral hazard? Mortal tragedy.