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What is moral hazard?
The term 'dukes of moral hazard' describes any leaders of organisations who are ultimately sheltered from their risk-taking by being given support from a lender of last resort when everything goes completely wrong.
It may or may not become a TV show satirising contemporary finance where people get into cars through the window as they did in "The Dukes of Hazzard".
Did you see the Dukes of Moral Hazard last night? They bailed into their cars through the windows again!
moral hazard - video
Moral hazard - what is it?
In helping to correct a problem which originated in past poor moral judgments, creating incentives for the same problem to repeat in the future without addressing the original poor moral judgments. Since there is an expectation that one was helped once, one will be helped again.
Giving money to banks which do not reform their mortgage lending practices creates a moral hazard