Being responsible for yourself doesn't mean you don't delegate. It means you have to stay on top of who your delegate is. FDIC means you simply tax others when

Being responsible for yourself doesn't mean you don't delegate. It means you have to stay on top of who your delegate is. FDIC means you simply tax others when you screw up. The insurance premium has no relationship with your risk profile. Responding to below: >>Successfully rescuing a bank from a run is not only a benefit to society as a whole but often makes a small net profit. This is the free lunch fallacy used to justify involuntary income redistribution. If it were indeed profitable on average, the market would do the bailing out. Bailing out the irresponsible prevents the evolutionary process of weeding out reckless and incompetent business models and behavioural patterns from working, while unfairly burdening those who are competent in their management of capital, which inhibits the expansion of their influence.