Luskin: Moral Hazard R Us

Donald Luskin loves to show replays of his interviews on some CNBC show hosted by Lawrence Kudlow. Is that what he means by Poor and Stupid? Luskin says that they have redefined “liquidity” but what is more bizarre is how Luskin claims a lot of government institutions were specifically designed to create moral hazard. Take a listen but be forewarned – when I did, I had to go bang my head against the wall screaming: stupid, stupid, stupid.