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Moral hazard isn’t a theoretical risk anymore—it’s here, entrenched, and thriving. From the bailouts of 2008 to today’s push for the U.S. government to take an equity stake in Intel, the precedent of picking winners and losers has shredded the free-market rulebook. With taxpayer dollars propping up corporate giants, competition gets crushed, innovation stalls, and Washington gains dangerous new powers over industry. This isn’t conservatism—it’s state capitalism on steroids, and the long-term cost will be far greater than the check we’re writing today.