Monday, April 13, 2009

Moral Hazard Isn't Just About Banking

President Barack Obama promised Monday that the U.S. would seek to halt the increasing threat of piracy off the Horn of Africa, reports WSJ.

Will this mean U.S. flagged ships will take more risks and sail closer to shore near the Horn of Africa, expecting U.S. Navy help if pirates attack? Will more ships now sail under a U.S. flag?

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