Top Definition
The term 'dukes of moral hazard' describes any leaders of organisations who are ultimately sheltered from their risk-taking by being given support from a lender of last resort when everything goes completely wrong.

It may or may not become a TV show satirising contemporary finance where people get into cars through the window as they did in "The Dukes of Hazzard".
Did you see the Dukes of Moral Hazard last night? They bailed into their cars through the windows again!
by AmadeusDevereux June 23, 2011

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