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Bankers have the luxury of taking big risks with your pension fund, losing all of it and still getting their yearly bonus when market forces are unexpected. ht
by base698 7y ago
Bankers have the luxury of taking big risks with your pension fund, losing all of it and still getting their yearly bonus when market forces are unexpected.
https://www.theguardian.com/books/2018/feb/22/skin-in-the-game-nassim-nicholas-taleb-review https://www.theguardian.com/books/2018/feb/22/skin-in-the-ga...
> Bankers are in the “Bob Rubin trade”, named after the former secretary of the US Treasury, who “collected more than $120 million in compensation from Citibank in the decade preceding the banking crash of 2008. When the bank, literally insolvent, was rescued by the taxpayer, he didn’t write any cheque – he invoked uncertainty as an excuse.
I'll save the doctors, lawyers and techbros for someone else. But there are equal examples you can find.