Suppose we describe the following situation: major US financial institutions have badly overreached. They created and sold new financial instruments without understanding the risk. They poured money into dubious loans in pursuit of short-term profits, dismissing clear warnings that the borrowers might not be able to repay those loans. When things went bad, they turned to the government for help, relying on emergency aid and federal guarantees"”thereby putting large amounts of taxpayer money at risk"”in order to get by. And then, once the crisis was past, they...
Source: http://www.realclearpolitics.com/2011/06/24/a_vicious_cycle_of_wall_st_bailouts_258078.html
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