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[–] 8 points 1 week ago (5 children)

Yeah, my understanding is that once bankers have bet more of other people's pensions and life-savings than they can cover if they lose the bet, they are in line for a bailout.

In effect, the more catastrophic your bet is, the less personal responsibility you have to take for it.

One of the many hypocrisies and perverse incentives of capitalism.

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  • [–] 5 points 1 week ago (2 children)

    In effect, the more catastrophic your bet is, the less personal responsibility you have to take for it.

    "If you owe the bank $100, that's your problem. If you owe the bank $100 million, that's the bank's problem."

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