2 ms·
Assuming that they want to know what’s actually on their books. Given the moral hazard of bailouts sans consequences, there’s a lot of incentive to look away wh
by village-idiot 8y ago
Assuming that they want to know what’s actually on their books. Given the moral hazard of bailouts sans consequences, there’s a lot of incentive to look away while the traders do shady shit during the good years and then plead ignorance before congress while asking for a bailout.
- tomrod 8y agoAs an economist I understand this issue 100%. But I rarely see the shady/seedy items in practice. Morale really sucks in places where illegitimate moves happen. And devs aren't idiots, they speak up and even whistle blow if something looks off. My experience in this world is that folks at the top and supporting roles want to operate in good faith.