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Open Letter to the Chief Confidence Officer of the United States of America

Open Letter to the Chief Confidence Officer of the United States of America

2012-04-21


Dear Dr. Bernanke,

My nephew is a bad kid. He's into drugs, engages in high-risk sex, and has a steady stream of brushes with the law. But he always manages to avoid prosecution- probably because he is smart and good looking... and he has a rich uncle.

Recently he got into trouble. He was involved in some illegal gambling and had resorted to the Martingale strategy - right up until he ran out of money. Just as he lost that last hand, the hall was raided and he was arrested. I had, in the past, told him that if he ever needed help, he should call. But this time was tough for me. I knew that I could throw money at the situation and the problem would disappear; the gamblers would go away, the police would go away, and there would be no court case. I would basically restore public confidence in this boy by buying his way out of scrutiny. He would then go on to screw up another day - probably in a much bigger way.

The alternative was for me to let him collect his lumps, and watch as he got a taste of where he would end up if uncle was not around to bail him out - or if uncle chose not to bail him out because he was the cause of all his trouble.

I had to decide what the moral thing was for me to do.....





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