{"id":240,"date":"2008-09-19T14:03:00","date_gmt":"2008-09-19T20:03:00","guid":{"rendered":"http:\/\/of2minds.org\/michael\/?p=240"},"modified":"2008-09-19T14:03:00","modified_gmt":"2008-09-19T20:03:00","slug":"privatize-profit-socialize-risk","status":"publish","type":"post","link":"http:\/\/of2minds.org\/michael\/2008\/09\/19\/privatize-profit-socialize-risk\/","title":{"rendered":"Privatize profit, socialize risk"},"content":{"rendered":"<p><a href=\"http:\/\/www.eschatonblog.com\/2008_09_14_archive.html#7941007578777299480\">Atrios sums it up<\/a>:<\/p>\n<blockquote><p>The mystery all along throughout all of this is who would be missing the seat when the music stopped, who would be left holding the bag.<\/p>\n<p>This is not a liquidity crisis. It&#8217;s an insolvency crisis. People made bad loans, and other people made hugely leveraged bets on those loans, and still more people insured those bets.<\/p>\n<p>And now the taxpayer gets the bill.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Atrios sums it up: The mystery all along throughout all of this is who would be missing the seat when the music stopped, who would be left holding the bag. This is not a liquidity crisis. It&#8217;s an insolvency crisis. People made bad loans, and other people made hugely leveraged bets on those loans, and &hellip; <a href=\"http:\/\/of2minds.org\/michael\/2008\/09\/19\/privatize-profit-socialize-risk\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Privatize profit, socialize risk&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-240","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/of2minds.org\/michael\/wp-json\/wp\/v2\/posts\/240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/of2minds.org\/michael\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/of2minds.org\/michael\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/of2minds.org\/michael\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/of2minds.org\/michael\/wp-json\/wp\/v2\/comments?post=240"}],"version-history":[{"count":0,"href":"http:\/\/of2minds.org\/michael\/wp-json\/wp\/v2\/posts\/240\/revisions"}],"wp:attachment":[{"href":"http:\/\/of2minds.org\/michael\/wp-json\/wp\/v2\/media?parent=240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/of2minds.org\/michael\/wp-json\/wp\/v2\/categories?post=240"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/of2minds.org\/michael\/wp-json\/wp\/v2\/tags?post=240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}