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by TheAlchemist
1189 days ago
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Not the greatest term I agree. But how do we call what happened ? Shareholders still got some money (~3B$). If it wasn't for government intervention, the bank would be dead very soon. The thing with banking and finance is that incentives are very bad - you play with other's people money, on thin margins - you're de facto encouraged to take risks. If they pay off, you get big bonuses, if they don't - you just change the bank you work for. |
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